BIOFIN Activities in Malaysia
The implementation of BIOFIN in Malaysia follows government-led model, with the Economic Planning Unit being the hosting agency, operating centrally under the Prime Minister's Office.
BIOFIN national team in Malaysia provided valuable inputs on finance for biodiversity and ecosystem to the 11th Malaysia Plan. BIOFIN team is also working on one of the goals of the new NBSAP in Malaysia.
A workshop will be organized in the future, which will review the results of the Policy and Institutional Review. It will help to further develop ideas for resource mobilization. BIOFIN team is also exploring opportunities to engage with the National Conservation Trust Fund created by the Government. BIOFIN also aims to work on improving the constitutional procedures that would ease the fiscal transfers in the country.
1. Biodiversity Finance Policy and Institutional Review (PIR)
Policy and Institutional Review is near completion in Malaysia. Through this process, the national BIOFIN Team mapped the impact of economic sectors on biodiversity, identified the main financing mechanisms being used and reviewed which subsidies have an impact on biodiversity. The PIR also reviewed the overall financing architecture for biodiversity in the country and generated specific recommendations for an improved institutional framework.
2. Biodiversity Expenditure Review
Work on Biodiversity Expenditure Review is already in progress. Through the Biodiversity Expenditure Review, the national BIOFIN team assesses which expenditures national stakeholders incur towards biodiversity, from both national and international resources, including the public and private sector. This helps the country generate national level expenditure data on biodiversity.
3. Biodiversity Finance Needs Assessment
Detailed calculations will be made to find out how much it would cost to complete all activities and reach all goals of the National Biodiversity Action Plan. Based on this, the national finance gap for biodiversity will be calculated. The work has started late 2014.
4. Biodiversity Finance Plan
Under this component BIOFIN will develop a strategy to mobilize potential finance actors and finance mechanisms to reach national biodiversity targets.
To start in 2016.
5. Implementing the Biodiversity Finance Plan
The scope of activities shall be defined by the recommendations of the Resource Mobilisation Strategy.
To start in 2016.
Information about the country and partnerships
Consisting of Eurasia's most Southern Peninsular and the northern part of the Island of Borneo, Malaysia is one of the world's 18 mega-diverse countries. The country is home to over 150,000 species of invertebrates, more than 15,000 vascular plants and 306 mammal species, including the endangered Malayan Tiger and up to 1,200 of the last remaining critically endangered Asian Elephants. Over a thousand other species in the country are categorised as threatened. Around 60% of its land is forested and 11% is part of the protected area system. Marine protected areas encompass around 250,000 hectares.