Jamaica
Jamaica’s biodiversity and ecosystems are fundamental to its economy, livelihoods and climate resilience. Forests, coral reefs, wetlands, mangroves and seagrass beds provide essential services including water security, coastal protection, food production and carbon storage, while supporting key economic sectors such as tourism, agriculture, fisheries and forestry.
These natural assets face growing pressures from climate change, habitat degradation, pollution, invasive alien species and unsustainable resource use. Jamaica already finances biodiversity through a combination of public budgets, environmental fees, international programmes, private investment and community-based conservation. However, financing remains fragmented and insufficient to meet the country’s conservation and ecosystem restoration needs.
UNDP BIOFIN is supporting Jamaica to develop a more strategic and sustainable approach to biodiversity finance. Through the Policy and Institutional Review, Biodiversity Expenditure Review and Financial Needs Assessment, the initiative will assess how biodiversity is currently financed, determine financing needs and gaps, and identify opportunities to improve existing resources and mobilize additional public, private and international finance.
This evidence will inform Jamaica’s Biodiversity Finance Plan, which will prioritize practical finance solutions aligned with national biodiversity priorities and the Kunming–Montreal Global Biodiversity Framework. By strengthening the connection between biodiversity, public finance and investment, BIOFIN aims to help Jamaica protect its natural capital while supporting climate resilience, sustainable livelihoods and long-term economic development.
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Finance solutions
Jamaica is currently undertaking the Policy and Institutional Review, Biodiversity Expenditure Review and Financial Needs Assessment. The findings will inform the Biodiversity Finance Plan and help identify and prioritize finance solutions based on their feasibility, financing potential and contribution to national biodiversity priorities.
1. Mobilizing Private-Sector Investment for Biodiversity
Explore opportunities to increase private investment in biodiversity conservation and ecosystem restoration through sustainable tourism, financial institutions, corporate sustainability initiatives, blended finance, public-private partnerships and other biodiversity-positive financial mechanisms.
Jamaica already has examples of private-sector participation that can inform this work. Through the Adopt-A-Mangrove Programme, managed by the National Environment and Planning Agency, corporate partners can support the restoration and management of mangrove ecosystems in the Palisadoes-Port Royal Protected Area.
2. Exploring Innovative Biodiversity Finance
Assess the feasibility of emerging financing mechanisms, including biodiversity credits and blended-finance approaches, as potential ways to attract additional investment in conservation and restoration. Any mechanisms identified through the BIOFIN process would need to be assessed against Jamaica's national context and biodiversity priorities before being prioritized for implementation.
Key results
Establishing National Governance for Biodiversity Finance
Jamaica has established its BIOFIN Project Steering Committee, bringing together key government institutions and stakeholders from environment, finance, planning and development. The Committee provides strategic oversight of the BIOFIN process and supports coordination across the Policy and Institutional Review, Biodiversity Expenditure Review, Financial Needs Assessment and development of the Biodiversity Finance Plan.
Strengthening Cross-Sectoral Coordination
BIOFIN is strengthening collaboration between environmental, financial and planning institutions to ensure that biodiversity finance is connected with national development and public finance priorities. This institutional engagement is helping build national ownership of the biodiversity finance process and align it with Jamaica’s biodiversity commitments.
Building the Evidence Base for Biodiversity Finance
Work is progressing on the BIOFIN assessments that will establish how biodiversity is currently financed, determine future financing needs and identify opportunities to use existing resources more effectively. The Biodiversity Expenditure Review will provide a baseline for tracking biodiversity-related public expenditure across relevant institutions and sectors.
Preparing Jamaica’s Biodiversity Finance Plan
The findings of the PIR, BER and FNA will inform Jamaica’s first Biodiversity Finance Plan. The Plan will identify and prioritize feasible finance solutions for improving existing expenditure and mobilizing additional public, private and international resources for biodiversity.