Story by Memory Chamisa
THE Government, in collaboration with the United Nations Development Programme (UNDP), will officially launch Zimbabwe’s Biodiversity Finance Initiative (BIOFIN) this Friday in Harare.
The initiative marks a significant step towards mobilising resources for nature conservation and aligning national efforts with the Kunming-Montreal Global Biodiversity Framework by developing a National Biodiversity Finance Plan.
Adopted in 2022, the Kunming-Montreal Global Biodiversity Framework is a landmark international agreement that guides global actions to protect and restore nature by 2030.
One of its key financial targets is the mobilisation of at least US$200 billion per year by 2030 from all sources, public, private, domestic, and international, including at least US$30 billion per year in international financing for developing countries.
The global biodiversity finance gap is estimated at around US$700 billion annually, prompting countries and organisations to introduce new funding mechanisms to bridge it.
Zimbabwe’s launch of the BIOFIN initiative is part of these global efforts to secure sustainable financing for biodiversity protection and environmental sustainability.
