The United Nations (UN) biodiversity Conference of the Parties (COP)17 in Yerevan, Armenia is set to conclude on October 30 and the ongoing talks remain crucial for taking forward the global biodiversity framework and its targets, ahead of COP31 in Türkiye next month. Against this backdrop, HT’s Jasjeev Gandhiok spoke to Ruchi Pant, head, Natural Resource Management and Biodiversity Conservation, UNDP India, on the key outcomes expected from the talks and what it means for India.
BIOFIN – UNDP’s Global flagship programme on Biodiversity Finance, has estimated a funding gap of USD 6.5 billion (2019) for implementing the NBSAP. Second is finance.
An Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) assessment from 2024 estimated the annual global biodiversity financing gap at USD 598–824 billion. On convergence, UNDP and the World Bank are supporting the government through the CONSERVE project, funded by the Global Biodiversity Framework Fund, where a national biodiversity data portal is being set up that brings together data spread across ministries and stakeholders, helping track progress against NBSAP targets. A management information system on Key Biodiversity Areas, ecological corridors and critical ecosystems is also being developed, at the national level and across select pilot states. It will serve as a decision-support tool, helping central and state governments mainstream biodiversity into land-use, spatial and sectoral development planning. Financing remains a challenge for biodiversity conservation. Bridging this gap will require greater investment from public and private sources, alongside innovative financing mechanisms that make nature-positive investments more attractive. In India, BIOFIN is supporting the government in updating the Biodiversity Finance Plan. The plan will help demonstrate innovative finance solutions to close India’s funding gap for implementing the NBSAP, by encouraging nature-positive investments. The private sector is a key part of this. Customised proposals are being developed with companies, based on their location, resources and preferences, and NGOs are being identified to help implement these initiatives. The proposals will be listed on the National Biodiversity Authority’s website so companies can choose projects and partners.
