Convention on Biological Diversity CoP16

Update from the NZ BIOFIN Impact Accelerator Project

Author: Ian Herburt, Project Lead. University of Otago

At the CBD conference 197 governmental delegates met for three weeks to progress the UN’s urgent call on member nations to invest more effectively in stopping this biodiversity loss.  BIOFIN is a global initiative started 10 years ago to help countries break from the historical pattern of biodiversity loss using biodiversity finance instruments. New Zealand got a special call out for being the newest member of the BIOFIN family and for its world leading biodiversity finance innovation. That was awesome.

I arrived in Colombia in one piece and the next day I was heading into the Sierra Nevada de Santa Marta valley. Dense jungle surrounding mountains reaching over 5000m. I met the Kogi Sharman (Rangatira) at the lost city ruins which is still used as a spiritual centre for the Kogi Tribe. They live completely emersed in the jungle. I feel extremely lucky to meet and get offered a lucky charm from him. We could learn a lot from these people who are so invested and connected with nature.

Internationally, realigning an extra 0.2% of world GDP is needed to fill the biodiversity financing gap over the next 10 years. New Zealand has designed a new tool that can do up to half of that called the Biodiversity Investment Contribution (the BIC). Just like a retirement contribution it invests for the future, but for our children’s common future with nature. It is simple and makes sense.  Here in Aotearoa, it’s likely we will find we need to invest a similar amount. That is all it takes to give our kids a future with nature. The BIC can do it.

For more on the NZ BIOFIN Impact Accelerator Project, contact Ian Herburt