Kenya has launched the Biodiversity Finance Initiative (BIOFIN) to close conservation funding gaps and promote a nature-positive economy, with Environment PS Festus Ng’eno saying it will mobilise sustainable financing, strengthen accountability, and integrate biodiversity into national planning for long-term environmental and economic resilience.
“The initiative provides a structured and evidence-based approach to addressing the persistent financing gap that has hindered biodiversity conservation efforts,” the PS said on Tuesday during the virtual launch.
The launch brought together key stakeholders from government, development agencies, and the private sector, including Jean-Luc Stalon, representatives from the Kenya Bankers Association, and conservation organisations such as WWF-Kenya.
The PS said Kenya’s biodiversity plays a critical role in supporting major sectors of the economy, including agriculture, tourism, fisheries, forestry, and water resources, which collectively sustain millions of livelihoods.
However, Ng’eno warned that these natural assets are under increasing pressure from multiple threats.
“Biodiversity conservation is not merely an environmental concern, but a critical economic and development priority,” he said.
He cited climate change, land degradation, pollution, and unsustainable resource use as key factors contributing to biodiversity loss, reaffirming the urgency of coordinated action.
The BIOFIN process, implemented with support from the United Nations Development Programme, has already involved extensive technical assessments, policy reviews, and stakeholder consultations.
According to Ng’eno, the initiative will enable Kenya to better understand its current biodiversity spending, identify financing gaps, and develop a practical financial roadmap.
“The initiative will help Kenya assess current biodiversity expenditures, identify financing needs, and develop a practical finance plan to guide investments,” he said.
In addition to mobilising resources, the programme aims to strengthen financial tracking and accountability, while improving policy coordination across sectors.
He said it would also support the integration of biodiversity considerations into national planning and budgeting processes, ensuring that conservation becomes a central component of development strategies.
The initiative aligns with Kenya’s international commitments, including the Convention on Biological Diversity and the Kunming-Montreal Global Biodiversity Framework, which call for stronger integration of biodiversity into policy and financial systems.
Ministry officials highlighted the role of innovative financing mechanisms in unlocking new funding opportunities.
These include green and blue bonds, blended finance, and biodiversity credits, which are expected to attract greater private sector participation.
“Financing biodiversity should not be viewed as a cost, but as a strategic investment in economic resilience, climate adaptation, and sustainable development,” the PS said.
He emphasised the importance of collaboration with the National Treasury, noting that biodiversity finance must be treated as a core component of public finance and economic planning.
The Principal Secretary called for a coordinated approach involving government, private sector, development partners, and civil society.
He urged stakeholders to move beyond planning and focus on implementation, scaling up investments that deliver measurable benefits for ecosystems and communities.
The launch formally establishes the BIOFIN Kenya chapter, signalling renewed commitment to mobilising and optimising financial resources for biodiversity conservation.
With increasing environmental pressures and limited funding, the government say the initiative is expected to play a catalytic role in transforming how Kenya finances conservation efforts.
The government says the programme will not only support environmental protection but also contribute to long-term economic sustainability, as the country positions itself towards a nature-positive and climate-resilient future.