Telangana to launch BIOFIN; first to implement biodiversity action plan

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HYDERABAD, Telangana: The United Nations Development Programme (UNDP) in association with the Telangana State Biodiversity Board (TSBB) launched the Biodiversity Finance Initiative Project (BIOFIN). It is a unique effort post the adoption of the Kunming-Montreal Global Biodiversity Framework (KM-GBF) and Telangana is the first state in India to prepare such a state-level biodiversity action plan, incorporating a resource mobilisation strategy.

BIOFIN came into the picture ten years ago at the Convention on Biological Diversity (CBD) COP11 held in Hyderabad. The UNDP and the European Commission acknowledged the requirement to divert additional funding from all available sources toward the implementation of global and national biodiversity goals, as well as related commitments and targets.

The TSBB has made active efforts towards furthering the agenda of biodiversity conservation in the state. Telangana is noted for its rich history of agro-biodiversity.

The TSBB is the ideal partner to leverage outreaching 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’ in order to develop a resource mobilisation strategy to carry out the action plan.

The signing of the letter of Agreement by the UNDP and the TSBB in the presence of Rajat Kumar, Chairman TSBB, and Ruchi Pant, Special Chief Secretary, UNDP Climate Adaptation head took place in the state capital. In the preparation of the Telangana State Biodiversity Strategy and Action Plan, the Centre for Innovations in Public Systems of ASCI is acting as a knowledge partner.