Background
Since the 1992 Rio Conference, sustainability has been recognized as vital for human development, highlighting the importance of healthy ecosystems and biodiversity. However, climate change and biodiversity loss remain insufficiently integrated into financial systems, leading to environmentally harmful development practices. To counter this, reforms promoting green transition, sustainable finance, and net-zero targets are being pursued.
Despite these efforts, the fragmentation of financial and policy approaches continues, with climate and biodiversity often treated separately, leading to duplication and competition for resources. A more integrated approach is needed, aligning financial frameworks across the climate-nature-development nexus to ensure efficient resource allocation and maximize synergies.
The zero draft outcome document for the Financing for Development Conference underscores the urgent need for increased financing to address climate change and biodiversity loss, especially in Least Developed Countries (LDCs) and Small Island Developing States (SIDS). These countries face the dual challenge of development and climate commitments, requiring developed nations to lead financial mobilization efforts.
To meet Nationally Determined Contributions (NDCs), developing countries need over US$ 2.4 trillion, while global climate action could yield a US$ 43 trillion economic gain by 2070. Biodiversity financing also faces a US$ 700 billion annual gap, necessitating policy alignment, financial reforms, and innovative conservation funding.
As the Paris Agreement and Kunming-Montreal Global Biodiversity Framework (GBF) aim to mobilize over US$ 500 billion annually, this discussion explores how countries can use Integrated National Financing Frameworks (INFFs) to develop cohesive financing strategies, integrating SDGs, NDCs, and biodiversity policies for a more sustainable future.
About this side event
Hosted by the INFF Facility core partner UNDP, this side event will provide policymakers and stakeholders with actionable insights on investment in climate and nature within sustainable development trajectories imbued by increasing fragmentation, polarization, and fragility. Emphasizing public and private financing for NDCs and National Biodiversity Strategies and Action Plans (NBSAPs) within developing countries, panelists will share experiences of initiatives triangulating climate, nature and development as well as the financing strategies that underpin them. These testimonials will take into account the broader framework of multilateralism and collective action since the Rio Conference necessary for enhancing global cooperation and resilience vis-à-vis common challenges permeating political, economic, environmental, and social contexts.
Where can I find the concept note and agenda?
The concept note can be found here. A detailed agenda will be shared online soon - stay tuned!
Where can I register?
This event is only for in-person participation - we welcome everyone who has 3rd prepcom access to join us. For information on accessing 3rd prepcom, please see the FfD website here.
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