Côte d’Ivoire
Côte d’Ivoire is one of West Africa’s biodiversity-rich countries, with forests, wetlands, coastal and marine ecosystems that support livelihoods, food security, climate resilience and economic development. These natural assets are under increasing pressure from deforestation, land degradation, unsustainable agricultural practices, pollution and climate change.
While biodiversity is recognized as a national development priority, financing remains insufficient and fragmented across sectors. Conservation currently relies on a combination of domestic public resources, international development finance and emerging private-sector investment. Strengthening existing financial flows and mobilizing new sources of finance will be essential to implement the country’s updated National Biodiversity Strategy and Action Plan (NBSAP).
UNDP BIOFIN is supporting the Government of Côte d’Ivoire to strengthen its approach to biodiversity finance. Through the Policy and Institutional Review, Biodiversity Expenditure Review and Financial Needs Assessment, the initiative is examining the policies and institutions that influence biodiversity finance, tracking existing expenditure and determining the resources needed to achieve national biodiversity priorities.
This evidence will inform Côte d’Ivoire’s Biodiversity Finance Plan and the identification and prioritization of practical finance solutions tailored to the national context. The process aims to improve the effectiveness of existing resources, strengthen coordination between environmental and financial institutions, and mobilize additional public, private and international finance for biodiversity.
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Finance solutions
The Policy and Institutional Review identified a range of existing biodiversity finance mechanisms in Côte d’Ivoire and highlighted opportunities to strengthen, reform and expand them. Based on these findings, several potential finance solutions are being considered for further assessment and prioritization through the Biodiversity Finance Plan.
1. Reforming Biodiversity-Harmful Subsidies
Assess opportunities to reform or repurpose subsidies in sectors such as agriculture, fisheries and energy that may have negative impacts on biodiversity. Redirecting public incentives towards more sustainable practices could improve the alignment of government expenditure with biodiversity objectives.
2. Strengthening Environmental Fiscal Instruments and Payments for Ecosystem Services
Explore opportunities to strengthen environmental taxes, fees and other fiscal instruments and expand Payments for Ecosystem Services (PES). These mechanisms could generate additional domestic revenues for biodiversity while creating incentives for sustainable management of forests, watersheds and other ecosystems.
3. Biodiversity Budget Tagging and Expenditure Tracking
Strengthen systems for identifying, tracking and monitoring biodiversity-related expenditure across public budgets. Improved budget tagging could increase the visibility of biodiversity spending, strengthen accountability and provide better evidence for future public finance decisions.
4. Mobilizing Private and Blended Finance for Biodiversity
Explore blended-finance approaches and stronger partnerships with businesses and financial institutions to mobilize additional investment in nature-positive activities. Potential opportunities identified through the PIR include biodiversity credits, green and blue bonds, environmental compensation and other private-sector mechanisms.
5. Aligning Biodiversity, Climate and Development Finance
Strengthen the integration of biodiversity into national development planning and climate-finance frameworks. Better alignment could improve policy coherence, identify opportunities for joint biodiversity and climate investment, and help direct financial resources towards activities that deliver multiple environmental and development benefits.
Key results
Building Côte d’Ivoire’s Biodiversity Finance Evidence Base
Côte d’Ivoire has developed a draft Policy and Institutional Review (PIR), which is progressing through validation. The review assesses the country’s biodiversity finance landscape and identifies existing mechanisms, financing gaps and opportunities for reform. Data collection is also underway for the Biodiversity Expenditure Review and Financial Needs Assessment, which will inform the Biodiversity Finance Plan.
Mapping Existing Biodiversity Finance Mechanisms
The PIR identified nine existing or emerging biodiversity finance mechanisms in Côte d’Ivoire. These include Payments for Ecosystem Services, environmental and protected-area funds, ecotourism revenues, carbon markets, environmental compensation, green and blue bonds, environmental fees and taxes, and biodiversity credits currently under study.
Identifying Priority Areas for Biodiversity Finance Reform
The PIR has highlighted opportunities to strengthen biodiversity finance through harmful-subsidy reform, environmental fiscal instruments and PES, biodiversity budget tagging, private and blended finance, and better alignment between biodiversity, climate and development finance. These areas will be further assessed and prioritized through the Biodiversity Finance Plan.
Strengthening Collaboration between Environment and Finance Institutions
BIOFIN has strengthened engagement between the Ministry responsible for environment and the Ministry of Economy, Finance and Budget, including the designation of a finance ministry focal point who is also engaged in the NBSAP process. This provides an important connection between biodiversity planning and national public finance.
Expanding Stakeholder Engagement in Biodiversity Finance
Government institutions, the private sector, civil society, academia and development partners are being engaged through consultations, workshops and technical discussions. This process is building a shared understanding of biodiversity finance and broadening participation in the development of Côte d’Ivoire’s Biodiversity Finance Plan.