Namibia will launch new financial strategies for biodiversity conservation next year. The initiative, supported by the United Nations, aims to address funding shortages in environmental protection.
The Biodiversity Finance Initiative (BIOFIN), led by the United Nations Development Program (UNDP), seeks to close the financial gap in conservation. It will introduce funding models such as area fees, green bonds, and carbon markets.
Bernadette Shivute, a sustainable finance specialist at UNDP Namibia, said the country faces challenges in securing enough funds for biodiversity conservation. Current funding comes mainly from the government and international donors, but it remains insufficient.
“Globally, biodiversity finance is falling short, and Namibia is no exception,” Shivute said. “BIOFIN will help us identify these financial gaps and develop sustainable funding solutions.”
The initiative follows a structured plan. It uses data analysis and input from stakeholders to create effective finance strategies. It also aims to integrate biodiversity conservation into national economic policies. However, Shivute noted that biodiversity finance often receives less attention than climate change initiatives.
Namibia has strong conservation policies, including the Access and Benefit-Sharing Act, which regulates biological and genetic resources. The country’s protected areas, conservancies, and nature reserves also contribute to conservation while boosting tourism revenue.
With these financial solutions, Namibia aims to strengthen conservation efforts, promote sustainable resource management, and ensure long-term benefits for nature and local communities.