CHM - ORTBelgium is committed at international and European level to implementing the Convention on Biological Diversity. This includes financial support, both to adequately fund our own national efforts and to support developing countries in implementing the CBD.
Targets 15.1-15.7 of the updated NBS express this national and global commitment and should be seen in light of Article 20 of the CBD (§1-4), several subsequent COP decisions and Target 19 of the K-M GBF. Target 19 aims to generate additional investments from all sources to gradually close the biodiversity financing gap by at least US$200 billion per year by 2030.
Resource mobilisation under the CBD is about increasing funding for biodiversity-related activities, both nationally and globally, to achieve the implementation of the K-M GBF, in line with Article 20 of the CBD. This objective is not only related to funding flows, but also to involving the private sector, reducing costs, improving sectoral integration, improving funding effectiveness (both nationally and in developing countries), etc. Consequently, relevant administrations and other actors have already taken - and still need to take - many actions to achieve objectives 15.1-15.7, in line with their own capacities and/or competences, and not limited to increasing net financial flows to third countries.
According to the study "Mapping and filling Belgium's public funding gap for nature and biodiversity", conducted by Trinomics for WWF-Belgium, the funding gap for biodiversity is estimated at €6.5 billion until 2030 to meet Belgium's biodiversity commitments. This represents about 0.14% of Belgian GDP, 0.2% of current total public spending in Belgium and about 9% of current total spending on environmental protection in Belgium.
To ensure the success of this NBS, additional measures are needed in key areas. Investment in coherent and integrated biodiversity activities should be substantially increased. Funding should be supported by regional and federal environmental administrations, depending on their own capacities, and by other relevant administrations and funding bodies, including the private sector.
This objective is linked to operational objective 5.6, which requires that subsidies harmful to nature be redirected to initiatives beneficial to biodiversity. In this way, this target will also contribute to closing the funding gap needed for ecosystem conservation.
The stakeholders involved in implementing this objective are: the federal and regional governments responsible for finance, the economy, development cooperation and the environment, provincial and municipal governments, the private sector and markets, NGOs and any association working on the same lines as the NBS. |
The Biodiversity Finance Initiative (BIOFIN) Workbook 2018 is a UNDP-led global partnership working with countries on biodiversity finance. Thirty-six countries have already started the process. BIOFIN uses detailed country-level assessments to develop a biodiversity financing plan based on qualitative and quantitative data, innovative methodologies and expert input. It is an innovative, progressive and adaptable approach that enables countries to: 1) Assess the political, institutional and economic context of biodiversity financing and identify existing financing solutions; 2) Measure and analyse current spending on biodiversity by the public and private sectors, donors and non-governmental organisations; 3) Make a reliable estimate of the funding needed to meet a country's biodiversity targets and compare this estimate with current spending on biodiversity and other available resources; 4) Develop a biodiversity financing plan that identifies and mobilises the resources and policies needed to implement the most appropriate financing solutions. |
| Global Targets | Degree of Alignment |
GBF-T19. Financial resources increased to $200 billion per year, including $ 30 billion through international finance GBF-T19. Financial resources increased to $200 billion per year, including $ 30 billion through international financeSubstantially and progressively increase the level of financial resources from all sources, in an effective, timely and easily accessible manner, including domestic, international, public and private resources, in accordance with Article 20 of the Convention, to implement national biodiversity strategies and action plans, by 2030 mobilizing at least 200 billion United States dollars per year, including by:
(a) Increasing total biodiversity related international financial resources from developed countries, including official development assistance, and from countries that voluntarily assume obligations of developed country Parties, to developing countries, in particular the least developed countries and small island developing States, as well as countries with economies in transition, to at least US$ 20 billion per year by 2025, and to at least US$ 30 billion per year by 2030;
(b) Significantly increasing domestic resource mobilization, facilitated by the preparation and implementation of national biodiversity finance plans or similar instruments according to national needs, priorities and circumstances;
(c) Leveraging private finance, promoting blended finance, implementing strategies for raising new and additional resources, and encouraging the private sector to invest in biodiversity, including through impact funds and other instruments;
(d) Stimulating innovative schemes such as payment for ecosystem services, green bonds, biodiversity offsets and credits, benefit-sharing mechanisms, with environmental and social safeguards;
(e) Optimizing co-benefits and synergies of finance targeting the biodiversity and climate crises;
(f) Enhancing the role of collective actions, including by indigenous peoples and local communities, Mother Earth centric actions[1] and non-market-based approaches including community based natural resource management and civil society cooperation and solidarity aimed at the conservation of biodiversity;
(g) Enhancing the effectiveness, efficiency and transparency of resource provision and use.
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[1] Mother Earth-centric actions: Ecocentric and rights-based approach enabling the implementation of actions towards harmonic and complementary relationships between peoples and nature, promoting the continuity of all living beings and their communities and ensuring the non-commodification of environmental functions of Mother Earth. | High |
GBF-T18. Reduce harmful incentives by at least $500 billion per year GBF-T18. Reduce harmful incentives by at least $500 billion per yearIdentify by 2025, and eliminate, phase out or reform incentives, including subsidies, harmful for biodiversity, in a proportionate, just, fair, effective and equitable way, while substantially and progressively reducing them by at least 500 billion United States dollars per year by 2030, starting with the most harmful incentives, and scale up positive incentives for the conservation and sustainable use of biodiversity. | High |