Ukraine is launching a search for sustainable financial mechanisms for biodiversity conservation as part of the global BIOFIN initiative. This step is part of the country’s green transformation, where nature protection is becoming a strategic priority. The launching pad for the dialogue was the first discussion between the government, experts, environmentalists and international partners, which took place in the format of an online brainstorming session organised by the Ministry of Environmental Protection and Natural Resources of Ukraine in cooperation with UNDP.
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BIOFIN is a global initiative of the United Nations Development Programme, which has already been joined by more than 130 countries. It involves in-depth analysis of environmental financing, identification of gaps and creation of new financial instruments for environmental protection. Ukraine officially launched the process of joining BIOFIN in May this year as part of the UN Global Conference on Financing for Nature Conservation.
Participation in the programme involves two key stages: researching the current state of financing and developing a financial strategy, and subsequently implementing specific instruments to attract resources. These may include changes to legislation or new sources of funding, as well as partnerships with businesses, grant mechanisms, staff training, or enhanced reporting.
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