The first Biodiversity Finance (BioFin) National Steering Committee meeting convened on Thursday 26 February, following the official launch of the Biodiversity Finance Initiative held on Wednesday 25 February.
The National Steering Committee serves as the formal governing body for the BioFin Initiative in the Cook Islands. Its role is to provide strategic guidance and oversight to the BioFin process, ensuring alignment with national priorities and feeds directly into existing national planning and policy processes. The committee is responsible for endorsing workplans and validating BioFin reports.
At its first meeting, the Committee reviewed and discussed the draft Terms of Reference and formalised its membership to ensure it reflects the Cook Islands context. It was agreed the Committee composition would include representatives from government, the private sector, and civil society. Members also confirmed that the National Environment Service (NES) and the Ministry of Finance and Economic Management (MFEM) are permanent members and will co-chair the BioFin Steering Committee.
The Committee further reviewed and endorsed the BioFin workplan and budget, and confirmed the next steps for implementation in the Cook Islands.
The co-chairs acknowledged and thanked all members for their active participation, valuable contributions, and demonstrated commitment to advancing the BIOFIN process. They emphasised the importance of continued collaboration and collective leadership in ensuring the success of the initiative.
This meeting marks the beginning of the BioFin journey in the Cook Islands. Its success will depend on continued collaboration, transparency, and shared ownership across all sectors and islands.
