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Context

To bridge the global biodiversity finance gap, the Kunming-Montreal Global Biodiversity Framework (KMGBF) set ambitious targets to reduce harmful incentives by at least $500 billion per year and mobilise $200 billion per year for biodiversity. To achieve these targets, and beyond, signatory parties are requested to prepare National Biodiversity Finance Plans, in support of National Biodiversity Strategies and Action Plans (NBSAPs).

The European Union has a major role to play in addressing the finance challenge. The EU’s biodiversity targets, as set out in the EU Biodiversity Strategy for 2030, require substantial investments in nature conservation. Currently, there is a significant finance gap, with the EU alone needing an estimated EUR 19 billion annually to meet its biodiversity goals over the next decade. In addition, there is an observed lack of biodiversity-related finance data, e.g. how much resources are available, how much is being spent on biodiversity, how much is needed, and what is the impact of existing policies on biodiversity. This lack of data hampers any evidence-based decision-making processes in the intersection of sectoral policies and finance related to biodiversity.

Objectives

This technical support project shall build capacities in Belgium, Finland, Luxembourg, and the Netherlands to identify, prioritise and design reform agenda in the field of biodiversity financing and identification of Environmental Harmful Subsidies (EHS). The broad objective of the project is to identify what are the financial needs as well as the challenges and opportunities to reach the biodiversity objectives and allow for informed decision-making.

The key project objectives include:

• Assessment of Environmental Harmful Subsidies: The project will help identify subsidies that negatively impact biodiversity and propose governance structures for managing these subsidies in Belgium and Luxembourg.
• Development of National Biodiversity Finance Plans: A comprehensive review of biodiversity policies, expenditures, and financial needs in Belgium, Finland, Luxembourg, and the Netherlands. This will include strategies for attracting additional biodiversity finance and aligning financial flows with the goals of the Kunming-Montreal Global Biodiversity Framework.
• Support to data governance: Provide solutions and improve data governance to support better decision-making and long-term sustainability of biodiversity finance.
• Capacity development: Conduct trainings and workshops to enhance national expertise in biodiversity finance and subsidy reform.

Outcomes

The expected outcomes of the project include:

• Improved policy frameworks: Better-designed policies that align financial flows with biodiversity goals and reduce harmful subsidies.
• Enhanced capacity for biodiversity financing: Stronger institutional and administrative capacities to manage biodiversity finance and develop evidence-based reforms.
• Mobilised resources for nature: A strategic shift in how public and private investments are channelled into biodiversity conservation and restoration.
• Increased stakeholder engagement: A collaborative approach among governments, businesses, and civil society to advance biodiversity conservation.

Through these efforts, the project will contribute to achieving the global biodiversity targets set in the KMGBF, particularly Target 18, which calls for the identification and removal of subsidies harmful to biodiversity by 2025, and Target 19, which aims to scale up biodiversity finance to USD 200 billion annually by 2030.

This project is a vital step toward nature-positive economies. By improving biodiversity finance planning and funding, Belgium, Finland, Luxembourg, and the Netherlands will be better positioned to meet their biodiversity targets and contribute to global conservation efforts. As the project progresses, the results will serve as a model for other EU Member States looking to align their financial systems with biodiversity protection.

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Juha Siikamaki, ������ϲʿ�������ֳ�ֱ�� Chief Economist, [email protected]��
Alberto Arroyo Schnell, Head of Programme and Policy, ������ϲʿ�������ֳ�ֱ�� European Regional Office, [email protected] ����