The Biodiversity Finance Initiative (BIOFIN) was officially launched in Kenya on April 21, 2026, at the Serena Hotel, Nairobi.
BIOFIN was convened by the United Nations Development Programme (UNDP) and the Government of Kenya and was centred on four key pillars, including fiscal policy and green incentives, capital market instruments including green bonds and sustainability-linked securities, credible, community-led project pipelines and the integration of biodiversity risk into commercial bank lending.
The initiative is looking at mobilising an estimated US$100 to US$150 billion in nature-related financing opportunities identified over the next decade, with a mandatory disclosure of nature-related risks.
BIOFIN Kenya, managed by UNDP Kenya, will now focus on supporting policy reform, developing investable project pipelines, and improving budget tracking for biodiversity at national and county levels.
Present during the launch was Treasury Principal Secretary Dr. Chris Kiptoo, who said, “biodiversity protection is an investment in economic resilience, fiscal sustainability, and intergenerational equity. It is my honour to officially launch BIOFIN Kenya.”
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The initiative will pilot instruments including green bonds, blended finance, and ecosystem-based revenue mechanisms, building on existing government efforts such as the Financing Locally-Led Climate Action Programme (FLLoCA).
Kenya is home to a rich biodiversity that underpins the country’s economy, livelihoods, and cultural heritage. Nature-dependent sectors contribute approximately 48% of Kenya’s GDP, with over 91% of Kenya’s domestic electricity coming from renewable sources, including geothermal, wind, solar, and hydro.
UNDP’s Dr. Jean-Luc Stalon said BIOFIN represents a shift from viewing biodiversity as a cost to recognising it as a productive asset that supports economic growth, resilience, and competitiveness.
“BIOFIN is not another conservation project. It is a practical financial approach that helps countries move from commitments to implementation,” said Dr. Jean-Luc Stalon, UN Resident Representative, UNDP Kenya.
Kenya updated its National Biodiversity Strategy and Action Plan (NBSAP) for 2023 to 2030, aligning it with the Kunming-Montreal Global Biodiversity Framework. Since 2018, the initiative has helped catalyse $.2.7 billion for biodiversity across 40 countries globally.
The launch of the BIOFIN Kenya Country Chapter creates a dedicated national platform for multi-stakeholder collaboration, uniting the National Treasury, commercial banks, the Nairobi Securities Exchange, conservation organisations, and development partners behind a common agenda.
