Ghana has launched a landmark initiative with the United Nations Development Programme (UNDP) to secure sustainable financing for biodiversity conservation, targeting a global annual funding gap of $700 billion.
The three-year Biodiversity Finance Initiative (BIOFIN), backed by the Global Environment Facility, aims to design Ghana’s first national plan to channel investments into nature protection while phasing out environmentally harmful subsidies.
Announced during a multi-stakeholder workshop in Accra, the program aligns with the Kunming-Montreal Global Biodiversity Framework’s 2022 targets, which require nations to eliminate detrimental financial practices and scale up funding for ecosystems by 2030. Ghana’s strategy will involve rigorous audits of existing biodiversity expenditures, policy reforms, and capacity-building measures to implement its updated National Biodiversity Strategy and Action Plan.
“This is not just about conservation it’s about reorienting financial systems to recognize nature’s value,” said UNDP Ghana’s Fati Attahiru, underscoring the need for innovative public-private partnerships. Currently, less than 20% of global biodiversity funding comes from private sources, a disparity BIOFIN seeks to address through blended finance models and green investment incentives.
Ghana’s Environment Ministry Director, Dr. Peter Dery, confirmed the country has already drafted revised biodiversity targets following nationwide consultations. These will integrate with climate agendas, reflecting the dual crises of ecosystem collapse and global warming. Bruno Mweemba, UNDP’s BIOFIN technical advisor, stressed the importance of “bankable projects” to attract institutional investors, pointing to successful forestry bonds and eco-tourism schemes in other African nations as blueprints.
The initiative leverages UNDP’s BIOFIN framework, already deployed in 133 countries, to synchronize Ghana’s economic priorities with planetary boundaries. Key focuses include safeguarding coastal mangroves critical for carbon sequestration and fisheries and reversing deforestation, which claims over 135,000 hectares of Ghanaian forest annually.
As African nations confront a $65 billion yearly shortfall in climate adaptation finance, Ghana’s BIOFIN rollout signals a broader shift toward institutionalizing green budgeting. Neighboring countries like Kenya and Senegal have adopted similar strategies, blending debt-for-nature swaps and biodiversity credits. With 40% of global GDP dependent on functioning ecosystems, such frameworks are increasingly seen as non-negotiable for both ecological resilience and long-term economic stability a reality Ghana’s plan seeks to codify into actionable policy.
