Target 19:
Mobilize $200 Billion per Year for Biodiversity from all Sources, including $30 Billion through International Finance

1. 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 $20 billion per year by 2025, and to at least $30 billion per year by 2030;
2. Significantly increasing domestic resource mobilisation, facilitated by the preparation and implementation of national biodiversity finance plans or similar instruments according to national needs, priorities and circumstances;
3. 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;
4. Stimulating innovative schemes such as payment for ecosystem services, green bonds, biodiversity offsets and credits, and benefit-sharing mechanisms, with environmental and social safeguards;
5. Optimising co-benefits and synergies of finance targeting the biodiversity and climate crises;
6. Enhancing the role of collective actions, including by indigenous peoples and local communities, Mother Earth centric actions and non-market-based approaches including community based natural resource management and civil society cooperation and solidarity aimed at the conservation of biodiversity;
7. Enhancing the effectiveness, efficiency and transparency of resource provision and use.

Introduction

Policy Proposals for National Implementation

• Adopt a precautionary approach to payment for ecosystem services and offsetting mechanisms to limit the risk of escalating biodiversity loss nationally, regionally, and locally.
• Allocate sufficient funding through national budget processes to meet the financing targets of the GBF.
• Financially support the implementation of National Biodiversity Strategy and Action Plans.

• Strengthen national contributions from Nordic states to the New York Declaration on Forests, The Glasgow pledge on ending deforestation and the SDGs on ending deforestation by 2030, in order to revive these targets internationally.

Policy Proposals for Inter­national Implementation

• All Nordic countries, and others in the position to do so, should mobilise at least 0,1% of GNI

  The 0,1% comes from calculating the size of GNI in OECD countries parties to the CBD (excl. USA), relative to the 30 billion USD need estimated for implementation of the GBF. (0,1% would render approximately 30 billion USD).

  to international biodiversity protection, in addition to funds allocated as ODA.
• Support the implementation of National Biodiversity Strategy and Action Plans in low-income countries.
• Ensure that all projects that take place in or near Indigenous Peoples’ territories, land and waters have a separate process for consultation and obtaining consent in line with the right to free, prior, and informed consent.
• Strengthen integration and synergies between actions under the climate change and biodiversity conventions, while keeping financial commitments and reporting separate and ensuring that climate co-benefits do not have an undue influence on priorities for the allocation of biodiversity finance.
• Contribute to the newly established Global Biodiversity Framework Fund (GBFF) and make pledges during the ninth replenishment period of the Global Environment Facility (GEF-9), as these are important/main channels for support to the implementation of the GBF in developing countries.
• Prioritise, ensure and increase direct and equitable access of Indigenous Peoples and their organisations to adequate, new and sustainable financial resources.
• Target 19 must be implemented in accordance with the strong recognition of the contributions and rights of Indigenous Peoples, different value systems and the human rights-based approach in Section C of the GBF, especially in the implementation of Target 19.d.
• Find solutions for ensuring that the increasing volumes of biodiversity finance do not divert ODA from other pressing development objectives, including by:
  1. Ensuring that the reporting framework under the GBF provides guidance on the meaning of “new and additional” finance (additional meaning at least 0,1%) and addresses the issues of double or triple reporting of biodiversity finance as climate finance and/or ODA.
  2. Suggesting new sources for public finance, such as taxes and levies on environmentally harmful activities, to ensure the polluters pay principle.
  3. Ensuring that when ODA budgets are used for biodiversity finance, the people and communities mostly affected by biodiversity loss and ecosystem degradation are prioritised.    
• Promote Target 19.f on collective actions and nonmarket-based approaches of resource mobilisation in the implementation of the GBF.