European Commission logo
English English
CORDIS - EU research results
CORDIS

PROTECTING AND RESTORING BIODIVERSITY USING MAINSTREAM FINANCE (BIOFIN)

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.

Coordinator

UNIVERSITY OF LIMERICK
Net EU contribution
€ 992 832,50
Address
NATIONAL TECHNOLOGICAL PARK, PLASSEY
- Limerick
Ireland

See on map

Region
Ireland Northern and Western Border
Activity type
Higher or Secondary Education Establishments
Links
Total cost
€ 992 832,50

Participants (12)

Partners (1)