Biodiversity finance initiative urgent in BD
City Desk:
Bangladesh has officially launched the “Umbrella Programme to Support Development of Biodiversity Finance Plans”, marking a significant step toward sustainable financing for biodiversity conservation. The initiative is part of the Biodiversity Finance Initiative (BIOFIN), a global partnership led by the United Nations Development Programme (UNDP) and supported by the Global Environment Facility (GEF), which works with over 130 countries to develop innovative finance solutions for nature.
The launch event, held at the Department of Environment (DoE) and co-organised by the Ministry of Environment, Forest and Climate Change (MoEFCC) and UNDP, underscored Bangladesh’s commitment to mobilising resources for biodiversity protection in line with its obligations under the UN Convention on Biological Diversity.
Dr. Farhina Ahmed, Secretary of MoEFCC, emphasised the urgency of integrated environmental governance. “This initiative provides a crucial platform to close financing gaps and achieve sustainable development for both people and planet,” she said. Resident Representative of UNDP Bangladesh Sonali Dayaratne reaffirmed UNDP’s partnership, noting that ecosystems are foundational economic assets.
“Investing in biodiversity means investing in food and water security, climate resilience, and human well-being,” Dayaratne said.
UNDP Programme specialist Arif M Faisal highlighted the current status of biodiversity finance, existing financing gaps in Bangladesh and proposed the establishment of a National Biodiversity Trust Fund, incorporating biodiversity budget tagging, eco-tourism revenue sharing, and payments for ecosystem services. Chairing the event, Director General of DoE Dr Md Kamruzzaman hailed the launch as “a milestone,” calling for collaborative action to enhance resilience and protect biodiversity through innovative financing.
The event also featured high-level interventions from MoEFCC officials, interactive sessions on the best global practices, and discussions on financing solutions aligned with the National Biodiversity Strategy and Action Plan (NBSAP), National Biodiversity Target and the Global Biodiversity Framework.
Project to protect biodiversity, promote sustainable management of ECA launched Annabelle C. Trinidad, Senior Technical Advisor of BIOFIN, discussed the global perspective of the BIOFIN programme and various innovative instruments used for nature conservation.