A Voluntary Contribution to the United Nations Development Programme 'Biofin' initiative to support an increase in financial flows towards biodiversity.

Biofin Phase II acts as a global knowledge network and supports lower- and upper- middle income countries to implement Biodiversity Finance Plans and finance solutions to achieve tangible finance results - actions that (1) help reduce or redirect resources causing harm to biodiversity, (2) generate additional resources or (3) enhance the effectiveness of resource use. Defra’s intervention in Biofin Phase II will support ODA eligible countries to accelerate the implementation of the emerging CBD (Convention on Biological Diversity) Framework, and support a green and fair recovery from the Covid-19 pandemic by: 1. Sharing knowledge for biodiversity finance planning via a regional learning/knowledge platform; 2. Global support to repurpose harmful subsidies; 3. The development of a biodiversity expenditure taxonomy to support biodiversity finance planning; 4. Accelerate national implementation via grants for financial innovation and biodiversity plan implementation; and, 5. Financial sector innovation feasibility studies. Biofin's methodology and materials support work at a global and national level to contribute to the achievement of UN’s Sustainable Development Goals (SDGs) focussing on poverty reduction, climate change and gender equality. Through implementing biodiversity finance solutions, money will be able to continue to flow towards biodiversity in future.