A workshop on implementation of BIOFIN Finance Solutions in Telangana with the theme ‘Mainstreaming Biodiversity in Public Finance in Agriculture sector-Access and Benefit Sharing’ and ‘Corporate Social Responsibility’ was organized by Telangana State Biodiversity Board under the guidance of National Biodiversity Authority in association with the United Nations Development Programme and Biotech Consortium India Limited in Hyderabad on Monday last.
The Ministry of Environment, Forest and Climate Change (MoEFCC), Government of India. has partnered with the United Nations Development Programme (UNDP) in a global project on Biodiversity Finance Initiative (BIOFIN).
BIOFIN was initiated 10 years ago at the Convention on Biological Diversity (CBD) COP-11 held in Hyderabad by UNDP and the European Commission in response to the urgent global need to invest more finance from all possible sources towards implementation of global and national biodiversity goals, and related targets and commitments including the Kunming-Montreal Global Biodiversity Framework (KMGBF).
The National Biodiversity Authority (NBA) is the technical agency to support in the implementation of the BIOFIN in India. Currently present in 40 countries, BIOFIN is working with governments, civil-society, vulnerable communities, and the private sector to catalyse investments in nature that not only protect biodiversity, but let it flourish. BIOFIN’s national and sub-national teams are currently working to develop Biodiversity Finance Plans to implement the National Biodiversity Strategy and Action Plan (NBSAP) and the State Biodiversity Strategy and Action Plans (SBSAPs).
Telangana State is known for its rich heritage of agro-biodiversity and the Telangana State Biodiversity Board (TSBB) has made concerted efforts towards furthering the agenda of biodiversity conservation in the state.
Telangana SBSAP, the first ever state plan prepared post the adoption of the Kunming-Montreal Global Biodiversity Frame in December 2022 along with a corresponding Resource Mobilization Strategy would serve as a road map to check and reverse the loss of biodiversity and ensure its conservation.
The TSBB has an active presence in the state and is a perfect partner to leverage outreach in the public and private sectors to implement BIOFIN Finance Solutions on Mainstreaming Biodiversity in Public Finance (Agriculture Sector)’, ‘Access and Benefit Sharing’ and ‘Corporate Social Responsibility’ with a view to prepare and implement a resource mobilization strategy to implement the Telangana State Biodiversity Strategy and Action Plan.
The project launch and implementation activities have begun with the signing of a letter of agreement by the UNDP and the TSBB in the presence of Chairman, TSBB and Special Chief Secretary, Government of Telangana, Principal Secretary, Agriculture, Chairperson, NBA and the UNDP Head-Climate Adaptation, NRM and Biodiversity Action for Climate and Environment.
This is a unique effort post the adoption of Kunming-Montreal Global Biodiversity Framework (KM-GBF), and in collaboration with UNDP, the state of Telangana would be the first state in the country to prepare such a state-level biodiversity action plan incorporating a resource mobilization strategy.
In order to move forward with the agenda of preparing a robust resource mobilization strategy, the state has organized a workshop with the active participation of more than 50 companies that are registered with the SBB. The meeting was participated by the officials of MoEFCC, NBA, TSBB, UNDP, BCIL and other relevant stakeholders.
