The BFP aims to present a coherent and comprehensive approach to biodiversity finance, encompassing a full suite of priority finance solutions. The plan is a national document engaging the public sector, private sector, and civil society. It goes beyond mobilizing additional resources, addressing all four finance results (Chapter 1): generate revenues, realign expenditures, deliver better, and avoid future expenditures. The objectives are to develop:
A comprehensive list of potential finance solutions including existing instruments and new opportunities;
A rigorous prioritization and vetting of potential finance solutions to achieve an optimal mix of prioritized solutions for inclusion in the Finance Plan;
Detailed technical proposals to operationalize prioritized biodiversity finance solutions;
A clear investment case for each prioritized finance solution and a high-level economic case for increased biodiversity investments and implementing the Plan;
A well-written and compelling Biodiversity Finance Plan with clear financial targets, priorities, milestones, budget and responsibilities.
The BFP formulation requires a range of technical capacities along with a coordinated effort from decision makers in government, civil society, and private companies. Specialized expertise is required to elaborate the technical proposals for the finance solutions selected in the Plan. The Plan can be prepared over the course of one year and should be considered a living document more than a definitive report.
More than previous assessments, the BFP configuration will be the result of compromises between political economy arguments and evidence-based propositions. Ownership of the document and the organization of the validation process are necessary milestones for assuring follow-up and implementation.