The 6th Global Biodiversity Finance (BioFin) conference, held in Santiago, Chile from 6th – 7th May 2025, brought together over 500 participants from 133 countries, to address the urgent need for sustainable funding mechanisms to protect and restore nature. This is the largest gathering of the nature-finance community to date, comprising of ministers, policymakers, financial experts and environmental leaders. The conference was organized by the UNDP Biodiversity Finance Initiative (BIOFIN), focused on addressing the global biodiversity financing gap.
The conference was attended by representatives from 7 Pacific Island Countries namely Cook Islands, Nauru, Fiji, Tonga, Tuvalu, Kiribati and Samoa. The Cook Islands was represented by Elizabeth Munro, Environment Stewardship Manger of the National Environment Service.
The conference aims to promote collaboration among public and private sectors, multilateral organizations, and local communities to achieve nature and biodiversity targets. Understanding the link between nature and humans is vital for national and global economies, requiring innovative solutions to sustain biodiversity and the environment.
Countries shared various experiences on biodiversity financing, including successful examples where tourism and community-based initiatives have supported conservation. Community-based conservation initiatives play a crucial role, by empowering local communities to preserve natural habitats which contributes to a meaningful value of preserving a countries unique natural heritage. These successful sustainable financial initiatives are supported by robust policy framework that places biodiversity conservation at the core of it environment strategy.
A Results-Based Budgeting for Biodiversity guidebook developed by the UNDP Biodiversity Finance Initiative was highlighted at the conference. The guide offers a comprehensive framework for aligning biodiversity funds with measurable conservation outcomes. The guidebook is designed to assist governments and stakeholders in implementing effective budgeting practices that directly support biodiversity goals and objectives.
The guidebook will be a tool to assist the Cook Islands in developing strategies to mobilize and increase financial resources for biodiversity conservation. It will also provide solutions to identify funding gaps and ensure sustainable financing for biodiversity initiatives.
Participants at the conference had the opportunity to visit Parque Tricao, a successful biodiversity conservation financial model in Chile. A 100 hectare private park recognised for its ecological restoration, wildlife rescue, and environmental education, demonstrating how investment in nature yields positive impacts on biodiversity and local communities. The park’s financing comes from multiple sources, combining private capital, ecotourism revenue, events, partnerships with conservation organizations, and environmental education programs.
The financing model of the Parque Tricao could serve as an excellent example for the Cook Islands when exploring sustainable funding options for protected or conserved areas.
