Project description
A financial shift for biodiversity conservation
As biodiversity faces a decline, it is necessary to redirect financial resources towards nature-positive investments. The dynamics of the financial system, prioritising certainty, and efficiency, pose a formidable obstacle. In this context, the EU-funded BIOFIN project will introduce a new framework and technology to standardise nature-positive investment processes and accelerate the green transition required to accomplish biodiversity goals set out by the EU. By streamlining decision-making, the project will create the enabling conditions for large-scale finance. Through real-life case studies, BIOFIN’s approach is expected to provide evidence-based recommendations and propel a green and digital transition essential for achieving the EU’s biodiversity goals.
Objective
If biodiversity is to be placed back on a path to recovery, new tools and knowledge are required to redirect financial resources from destructive economic activity towards nature-positive investment. The financial system consists of interacting and dynamic actors who value certainty (rules and governance structures) and efficiency (outcome transparency and low monitoring costs). We aim to create a unifying framework and technology that creates the enabling conditions for nature-positive investments. Activities that protect and restore biodiversity (such as nature-based solutions) are frequently unique, multi-actor efforts carried out at a local scale with positive, but complex outcomes. We resolve this by establishing a categorisation of nature based solutions (NBS) alongside a menu of good governance structures and a library of stakeholder engagement. This will draw on expertise and best practice in natural capital and economics to streamline decision making and accelerate transaction completion by standardising the investment process and creating the enabling conditions for large-scale finance. To accelerate nature-positive business models, we create a data analytics and underwriting engine to advance conventional project appraisal and risk assessment and account for and model expected outcomes. We will assess and validate our approach across diverse real-life case studies (learning sites). Our findings and approach will initiate a twin green and digital transition that resolves transaction complexity and creates the enabling conditions for large-scale investment that are required if the EU is to achieve its biodiversity goals. Our outcomes will identify remaining gaps in the Taxonomy and support policy forming through evidence-based recommendations and we will co-design, develop and establish pathways for skills and knowledge accelerators for the European financial services industry.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
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Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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HORIZON.2.6 - Food, Bioeconomy Natural Resources, Agriculture and Environment
MAIN PROGRAMME
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
HORIZON-RIA - HORIZON Research and Innovation Actions
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) HORIZON-CL6-2023-BIODIV-01
See all projects funded under this callCoordinator
Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
- Limerick
Ireland
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.