NEW

The UNDP Biodiversity Finance Initiative (BIOFIN) is a global effort envisioned to increase biodiversity finance as required within the Aichi Targets. 

 

In South Africa, the BIOFIN project is implemented at a national level by UNDP in partnership with the Department of Forestry, Fisheries and the Environment. One critical area the BIOFIN programme in South Africa seeks to address is the impact of subsidies and incentives on the country's biodiversity. Some, often well-intended, subsidies & incentives end up having unintended negative effects on the environment and biodiversity. This, in turn, impacts society and the economy at the local and national level. UNDP contracted Natural Strategies to lead this research and develop country-wide reform proposals.

 

In working with stakeholders across government, private sector, NGOs, and academia, Natural Strategies has set-out to: 

• Conduct an analysis to identify, assess and quantify the value and the cost of each type of subsidy and incentive likely to have an impact on biodiversity 

• Understand the potential of redesigned options and prioritise efforts that take into consideration a full range of social, environmental, and economy concerns

• Develop a reform proposal for the prioritised subsidies in South Africa

 

Thereby, Natural Strategies seeks to strengthen key economic incentives to conserve biodiversity throughout the country.