BIOFIN Zambia commenced its operations in 2015. It has been anchored in the Ministry of Lands and Natural Resources under the Department of Climate Change and Natural Resources.

Zambia is endowed with an abundance of natural resources and a rich biological diversity. Like other developing countries, Zambia is highly dependent on the exploitation of biological resources for the livelihood of the majority of its people especially those living in rural areas.

The importance of biodiversity for Zambia lies mainly in its contribution to the provision of ecosystem goods and services for national economic development and livelihoods. At the ecosystem level, forests, agro-ecosystems and wetlands can be distinguished as the key ecosystem components that have a relatively greater bearing on the country’s natural system integrity upon which the national economy and the livelihoods of the population depend.

The network of Zambia’s statutory protected areas (PA) is composed of over 63,580 km2 in 20 National Parks (NPs), about 167,557 km2 in 36 Game Management Areas (GMAs) and about 74,361 km2 in 490 Forest Reserves (FRs). Zambia has Eight Wetlands of International Importance which include, the Kafue Flats (Lochnivar and Blue Lagoon National Parks) Bangweulu Swamps (Chikuni), Lukanga Swamps, Busanga, Lake Tanganyika,, Luangwa Floodplains, Lukanga swamps, Barotse floodplain) listed under the Ramsar Convention. These wetlands are habitats of several important fauna and flora species including some endemic and endangered species. The estimates of mammal diversity in Zambia is around 224 species. The REMNPAS (2010) on the other hand reports that approximately 43 species of large mammals are important; firstly on account of the potential income that can be generated from their use in photographic and consumptive tourism, secondly, their contribution to local household economies, as a source of protein and as a source of income through illegal market structures, and thirdly, their aesthetical appreciation by the global community including their existence value. According to the 2014 Red List of Threatened Species, over 28 animal species and subspecies are considered as threatened, endangered or vulnerable in Zambia.

Key Results

  • Developed the country strategy plan which is focused on mainstreaming green finance into Zambia’s financial sector, with green bond guidelines and listing rules being gazzetted .
  • Formed a green finance mainstreaming working group with the finance sector regulators notably the Securities and exchange Commission (SEC), the Bank of Zambia (BOZ) and the Pensions and Insurance Authority (PIA). This is the main vehicle for the mainstreaming of green finance, including biodiversity finance, into Zambia’s financial sector.
Finance Solutions
Key Documents
Policy and Institutional Review (PIR)

The PIR has been completed and ready for publishing. The process included a review of the policies, legal instruments and institutional set ups for biodiversity financing. Through the PIR, Zambia did identify a number of potential solutions some of which found their way into the BFP.