BIOFIN activities in Mexico
The BIOFIN process in Mexico is centered around a number of assessments following the BIOFIN workbook:
1. Biodiversity Finance Policy and Institutional Review (PIR)
Through this process, the national BIOFIN Team maps the impact of economic sectors on biodiversity, identifies the main financing mechanisms being used and reviews which subsidies have an impact on biodiversity. The PIR also reviews the overall financing architecture for biodiversity in the country and generates specific recommendations for an improved institutional framework.
2. Biodiversity Expenditure Review
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.
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.
Status: 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.
Status: To start in 2016
Country Information and partnerships
Mexico is considered one of the most biodiverse countries in the world and more than 10% of all species exist in the country. Over 500 mammal species live in Mexico, making it the country with the third highest mammal variety in the world. Mexico also has the second highest richness in known vascular plant species (>800) after Australia. The protected area system includes 159 federal reserves and 67 RAMSAR sites. Forested areas comprise over one third of the territory.
Biodiversity Finance example in Mexico: The payment for Environmental Services Programme (PES) developed by Mexico’s National Forest Commission (Comission Nacional Forestal, CONAR) plays an important role in promoting sustainable biodiversity management in the country. Based on a conditional cash transfer program, the Mexican PES is focused on two ecosystem services: hydrological services and biodiversity preservation. The program provides financial aid for landowners committed to sustainable use of natural resources contributing to biodiversity conservation and reduction of poverty in the country.
Mexico also uses matching funds to promote sustainable land practices and has invested USD 10 million to a biodiversity endowed fund (Fondo Patrimonial de Biodiversidad) along with GEF for high conservation priority areas not covered by PES.