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2018 DRR Financing 4.3 Onno Heuvel

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Finance Solutions for Nature-based Interventions: Lessons from the Biodiversity Finance Initiative (BIOFIN)

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2018 DRR Financing 4.3 Onno Heuvel

  1. 1. Finance solutions for nature-based interventions Lessons from the Biodiversity Finance Initiative (BIOFIN) Onno van den Heuvel Istanbul, 4 October 2018
  2. 2. 1) How is biodiversity finance relevant to disaster risk reduction finance 2) What are the main concepts of the Biodiversity Finance Initiative? 3) From which finance biodiversity finance solutions can we draw lessons for disaster risk reduction? Guiding questions
  3. 3. 1) How is biodiversity finance relevant to disaster risk reduction finance Guiding questions
  4. 4. Answer 1 Nature based solutions can play an important role in disaster protection
  5. 5. Answer 2 Finance solutions are multipurpose and can be applied to different SDGs/DRR
  6. 6. 1) l 2) What are the main concepts of the Biodiversity Finance Initiative? Guiding questions
  7. 7. BIOFIN Phase I (2012 – 18) Objective: Develop a new methodology for evidence based national finance plans BIOFIN Phase II (2018 – 22) Objective: Implementing finance solutions Key facts
  8. 8. Geographic coverage 14 11 Megadiverse countries 10 12 36 Countries
  9. 9. Theoretical Framework
  10. 10. BIOFINFinanceResults
  11. 11. Policy and Institutional Review ▪ Assess economic/fiscal drivers of biodiversity change ▪ Catalogue existing biodiversity finance solutions ▪ Review Harmful Subsidies ▪ Identify gaps in policies, legislation, fiscal framework
  12. 12. Biodiversity Expenditure Review How much do major actors spend on biodiversity? Are expenditures aligned with policies? Indirect expenditures.. Results • 0.1 to 0.2% of GDP • 0.2 to 1.8% of National budget Colombia: Protection 36%, restoration 41% restoration, Sustainable use 7% Guatemala: Municipalities 7.5%, Central Gov 92.5%
  13. 13. Financial Needs Assessment Make a comprehensive estimate of the financial resources needed to achieve national targets Results • Needs, per biodiversity goal/SDG • Embed in medium budgeting framework • Develop results based action plans
  14. 14. Biodiversity Finance Plan Develop the most optimal mix of finance solutions Public & Private Traditional & Innovative National & International • Baseline: Data and findings from the entire process • Basic screening: 1) Biodiversity 2) Financial impact 3) Soci- economic criteria 4) Feasibility • Prioritisation: Detailed screening • Advocacy: Develop business cases and plans for the prioritised finance solutions • Sustainability: Institutionalise the Finance Plan
  15. 15. THE BIOFIN WORKBOOK
  16. 16. Web platform Catalogue of finance solutions www.biodiveristyfinance.net
  17. 17. Catalogue of finance solutions mobile version
  18. 18. 1. Biodiversity offsets 2. Bioprospecting 3. Biosafety fee 4. Carbon markets 5. Conservation easement (external-analysis) 6. Conservation or wildlife themed items 7. Corporate and corporate foundations' donations 8. Corporate social responsibility tax 9. Corporate sustainability 10. Crowd funding 11. Debt-for-Nature Swaps 12. Disaster risk insurance 13. Earmarking and retention of biodiversity revenues (self income) 14. Ecological fiscal transfers 15. Effective procurement 16. Enterprise challenge and innovation funds 17. Environmental risk insurance 18. Financial and operational mergers 19. Green banks 20. Green bonds 21. Green lending 22. Green procurement 23. Cost effectiveness measures 24. Human resources management 25. Impact investment 26. Enhance public budget execution 27. Incentives for sustainable business 28. Enhanced Land or Marine Stewardship 29. Islamic finance Catalogue of Biodiversity Finance Solutions 30. Lobbying for public budget allocations 31. Lotteries 32. Lower cost of capital for conservation investments 33. Mobile banking 34. Mobilization of private donations 35. Increasing Official Development Assistance (ODA) 36. Promoting Natural capital accounting 37. Outsourcing strategies 38. Payment for Ecosystem Services 39. Compensation for planned environmental damage 40. Penalties and other compensation for unplanned environmental damage 41. Promotion of sustainable tourism 42. Non-State Protected Areas 43. Financial guarantees 44. Remittances 45. Result based budgeting 46. Social and development impact bonds 47. Sovereign Wealth Funds 48. Change subsidies harmful to biodiversity 49. Sustainability standards and certification (voluntary) 50. Biodiversity friendly subsidies 51. Earmarking of taxes on financial transactions 52. Taxes, fees and quotas in the fishery sector 53. Taxes on natural resources (non-renewables) 54. Taxes on renewable natural capital 55. Taxes, Fees and Royalties in the Forestry Sector 56. Tariffs, fees and taxes in the water sector 57. Taxes on pesticides and fertilizers 58. Taxes and fees in the tourism sector 59. Taxes and fees in the wildlife sector 60. Technology upgrade and maintenance 61. Trade finance 62. Trust funds 63. Venture capital 64. Water markets 65. Fees, penalties, and management expenditures for Environmental (and Social) Impact Assessment 66. Finance for Permanence 67. Pasture (and grazing) Fees
  19. 19. Expand to other SDGs Bhutan – 3 SDGs: Poverty, Climate, Biodiversity Kyrgyzstan – Biodiversity & CC Adaptation
  20. 20. 1) f 2) f 3) From which finance biodiversity finance solutions can we draw lessons for disaster risk reduction? 8 Examples Guiding questions
  21. 21. Policy and expenditure analysis: - 60% of finance from public budgets - Protected Areas increased revenues by 40% per year - Tourism: 8.1% to the national GDP in 2016, 122,000 jobs Finance solutions 1) Strengthen the capacity of the Ministry of Environment for result based budgeting 2) Increasing the financial sustainability of the protected areas system 3) Better integrated biodiversity into the EIA system (eg hydropower) and improve the fine system for violations 1 Georgia
  22. 22. 2 Philippines BIOFIN will contribute towards : • Preparation of Implementing rules and regulations of the law • Develop an investment program for protected areas
  23. 23. 3 Mongolia New mechanism to calculate pasture user fees developed Direct reduction of risk for harsh winter disaster known as Dzud
  24. 24. 4 Indonesia Islamic finance & Biodiversity ▪ Integrating biodiversity considerations into the impact framework for Green Sukuk ▪ Exploring options for biodiversity conservation using funds from Zakat
  25. 25. 5 South-Africa ▪ Tax break for private protected areas
  26. 26. 6 Guatemala Sportfishing revenues
  27. 27. 7 Kyrgyzstan Results Based Budgeting ▪ New budget code (January 2017): Transition to strategic budget planning and result-oriented budgeting. ▪ Monitoring and evaluating of effectiveness
  28. 28. 8 Costa Rica ▪ Issuance of a new green bond (MOU signed in 2018) for the purchase of land for conservation ▪ Revision of protected area finance system to generate revenues in the long term
  29. 29. 8 Costa Rica
  30. 30. 8 Costa Rica
  31. 31. 1) Finance needs for biodiversity are limited compared to most other areas, benefits are high 2) Each country follows a tailored approach and found unique opportunities/solutions 3) Many elements of the BIOFIN Methodology can be applied to other areas Conclusions

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