The Government of Uganda (GoU) through the National Environment Management Authority (NEMA) with support of the UNDP is implementing the BIOFIN in Uganda. BIOFIN is a global partnership seeking to address the biodiversity finance challenge in a comprehensive and systematic manner. The initiative aims to enable governments to construct a sound business case for increasing investment in the sustainable and equitable management, protection and restoration of biodiversity and ecosystems. Uganda has completed its review and update of the NBSAP2 and its strategic objectives have been linked to the BIOFIN methodology to enable the review process cost the NBSAP for ease of implementation.
Prioritised Finance Solutions
- Review and improve environmental fiscal instruments and the enabling conditions for their implementation, and create explicit ring-fencing for biodiversity conservation.
- Specifically address residual impacts associated to biodiversity related activity in a manner whether the principle of at least no-net loss is implemented and paid by polluters.
- Biodiversity management enhanced through physical hydrological contributions that can be financed by water users.
- Design risk management instruments for operational, reputational and policy risks and establish a platform for fundraising for biodiversity conservation.
The PIR report has been completed after full participation of the stakeholders from Government ministries, departments and agencies, civil society, private sector, academia and media. The PIR further described the perspective of National Development Plans, reviewed the status and trends of biodiversity, the economic sectors and their associated negative and positive biodiversity and ecosystem trends; sector policies, and practices; and described financial and economic drivers.
The BER report has been completed after full participation of the stakeholders from Government ministries, departments and agencies, civil society, private sector, academia and media. The review analysed biodiversity financing based on four major sectors of agriculture, tourism, energy and water and environment. One of the major findings is that; protection and restoration seems to be the backbone of biodiversity and environmental conservation for economic development.
Uganda has completed its FNA and the report provides comprehensive information biodiversity financing gap and needs assessment in Uganda. It estimated the financial gap based on the current biodiversity investments as established in Biodiversity Expenditure Review (BER) as well as unimplemented activities resulting from lack of funds.
Uganda is in its final stages of the completing the NBFP and it has been developed to provide financing to address all outstanding challenges of biodiversity management in the country.? The finance plan supports implementation of the country’s National Biodiversity Strategy and Action Plan, NBSAPII. NBSAP II which seeks to maintain a rich biodiversity benefiting the present and future generations for socio-economic development.
Uganda has selected nine (9) financing solutions, prioritized from the policy and institutional review, biodiversity expenditure review in consultations with the Technical Steering Committee (TSC) for the Biodiversity Finance Imitative (BIOFIN).