The Biodiversity Finance Initiative - Phase II (BIOFIN Philippines)

About this project

While the estimated cost of the Philippine Biodiversity Strategy and Action Plan (PBSAP) implementation within the given time frame of 2015-2028 is PhP24B/year, a public and private expenditure review revealed that current government (including local governments) spending on biodiversity is only PhP5B/year which leaves a financing gap of PhP19B/year to implement the PBSAP fully. Gross domestic product (GDP) measured at constant prices from 2008-13 averaged PhP5 trillion/year. Measured against this metric, the estimated biodiversity spending of all agencies (including Official Development Assistance) is a measly 0.08% of GDP for this period. The country’s national budget stood at PhP1.6 trillion for the same period and biodiversity spending represents only 0.31% of the national budget. Biodiversity spending can be compared to the share of the agricultural, fish, and forestry sector contribution to the GDP, which is a basic sector that depends on biodiversity. This sector’s contribution to GDP from 2008 to 2013 is 11.0% while the fishery sector alone contributes 2.5%. Thus, income derived from the fishery sector is roughly 31 times the current biodiversity spending. With the completion of the policy and institutional review, expenditure review and finance needs assessment, a biodiversity finance plan was drafted in 2017 and its financial targets were vetted by the Project Steering Committee. Several finance solutions covering the following areas are being implemented:• Improvi…

Goals

Sustainable Development Goals this project works towards

• 15Life on Land
• 17Partnerships for the Goals

Published by

United Nations Development Programme · Multilateral

Countries

Philippines

Sectors

Environmental policy and administrative managementBiodiversity

Funded by

Federal Office for the Environment-FOEN, UNDP Funding Windows, Dept of Forgn Afrs Trade & Dev, GOVERNMENT OF GERMANY, GOVERNMENT OF UNITED KINGDOM

Implemented by

UNDP

Accountable

UNITED NATIONS DEVELOPMENT PROGRAMME

Published by United Nations Development Programme to the International Aid Transparency Initiative (IATI), last updated 5 Oct 2026 and imported automatically. IATI identifier: XM-DAC-41114-PROJECT-01002894.

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