MoEFCC partners with UNDP in a global project on BIOFIN
BIOFIN is working with governments, civilsociety, vulnerable communities, and the private sector to catalyse investments in nature that not only protect biodiversity, but let it flourish.
The Union Ministry of Environment, Forest and Climate Change (MoEFCC) has partnered with the United Nations Development Programme (UNDP) in a global project on Biodiversity Finance Initiative (BIOFIN). BIOFIN was initiated ten years ago at the Convention on Biological Diversity (CBD) COP-11 held at Hyderabad by UNDP and the European Commission in response to the urgent global need to invest more finance from all possible sources towards implementation of global and national biodiversity goals, and related targets and commitments including the Kunming-Montreal Global Biodiversity Framework (KMGBF).
The National Biodiversity Authority (NBA) is the technical agency to support in the implementation of the BIOFIN in India. Now present in 40 countries, BIOFIN is working with governments, civil-society, vulnerable communities, and the private sector to catalyse investments in nature that not only protect biodiversity, but let it flourish.
BIOFIN’s National and Subnational teams are currently working to develop Biodiversity Finance Plans to implement the National Biodiversity Strategy and Action Plan (NBSAP) and the State Biodiversity Strategy and Action Plans (SBSAPs).
Telangana State is known for its rich heritage of agro-biodiversity and the Telangana State Biodiversity Board (TSBB) has made concerted efforts towards furthering the agenda of biodiversity conservation in the State. Telangana SBSAP, the first ever State Plan prepared post the adoption of the Kunming-Montreal Global Biodiversity Frame in December, 2022 along with a corresponding Resource Mobilization Strategy would serve as a road map to check and reverse the loss of biodiversity and ensure its conservation.
The project launch and implementation activities have begun with the signing of Letter of Agreement by the UNDP and the TSBB in the presence of Chairman, TSBB & Special Chief Secretary, Government of Telangana, Principal Secretary, Agriculture, Chairperson, NBA and the UNDP Head- Climate Adaptation, NRM and Biodiversity
Action for Climate and Environment. This is a unique effort post the adoption of Kunming-Montreal Global Biodiversity Framework (KM-GBF), and in collaboration with UNDP, the State of Telangana would be the first State in the Country to prepare such a state-level biodiversity action plan incorporating a resource mobilization strategy.
In order to move forward with the agenda of preparing a robust resource mobilization strategy, the State is now organizing a workshop with the active participation of over 50 companies that are registered with the SBB.