Kenya launches BIOFIN to scale up investment in nature

21 April 2026, Nairobi, Kenya — Kenya has officially launched the UNDP’s Biodiversity Finance Initiative (BIOFIN), marking a significant step toward mobilizing the financial resources needed to protect the country’s natural capital and support sustainable development.

The launch event, convened by UNDP Kenya and the Government of Kenya, brought together representatives from the private sector, civil society organizations, development partners, academia, and the media, reflecting a broad coalition committed to advancing biodiversity finance.

Kenya’s economy is deeply intertwined with nature. Nature-based sectors contribute an estimated 48 percent of GDP, while more than 91 percent of the country’s electricity is generated from renewable sources, including geothermal, wind, solar, and hydropower.

Despite this strong foundation, biodiversity across the country is under increasing pressure from unsustainable land use, climate change, and persistent financing gaps. These pressures are already contributing to ecosystem degradation across forests, wetlands, savannahs, and marine environments, with implications for livelihoods, economic stability, and climate resilience.

To address these challenges, Kenya has updated its National Biodiversity Strategy and Action Plan (NBSAP) 2023–2030, aligning it with the Kunming-Montreal Global Biodiversity Framework. Delivering on these commitments will require not only policy ambition but also a significant increase in financial resources from both public and private sources.

Building a national platform for biodiversity finance

BIOFIN in Kenya establishes a national platform to coordinate biodiversity financing efforts across key institutions. The platform brings together the National Treasury, commercial banks, the Nairobi Securities Exchange, conservation organizations, and development partners to strengthen collaboration and unlock new sources of funding.

Government officials emphasized that public finance alone will not be sufficient to close the biodiversity finance gap. Instead, the strategy places a strong focus on mobilizing private capital, scaling blended finance approaches, and expanding the use of innovative financial instruments.

These include green and blue bonds, biodiversity credits, and sustainability-linked lending, tools that are increasingly attracting institutional investors seeking environmental, social, and governance (ESG) investment opportunities.

Kenya’s financial sector has signaled its readiness to support this transition. Representatives from the Kenya Bankers Association highlighted the importance of integrating nature-related risks into financial decision-making, including through improved risk-pricing frameworks and the adoption of nature-related financial disclosures.

From environmental concerns to economic priority

Speakers at the launch underscored that biodiversity loss is no longer only an environmental issue; it is increasingly an economic risk. Declining ecosystem health is already affecting agricultural productivity, increasing public spending on climate adaptation, and heightening vulnerability to environmental shocks.

“Biodiversity protection is not a competing claim on scarce public resources. It is an investment in economic resilience, fiscal sustainability, and intergenerational equity,” said Treasury Principal Secretary Chris Kiptoo.

UNDP Resident Representative in Kenya, Jean-Luc Stalon, emphasized the growing recognition of biodiversity as a core economic issue, noting that safeguarding natural capital is essential for long-term development.

UNDP Resident Representative in Kenya, Jean-Luc Stalon/courtesy

Principal Secretary for Environment, Climate Change, and Forestry, Festus Ng’eno, echoed this message, calling for a shift in how biodiversity financing is perceived.

“Financing biodiversity should not be viewed as a cost, but as a strategic investment in economic resilience, climate adaptation, and sustainable development,” he said.

Turning strategy into action

With the launch of BIOFIN, Kenya is now positioned to move from strategy to implementation. The programme will support policy reforms, develop a pipeline of bankable green projects, strengthen biodiversity expenditure tracking at both national and county levels, and pilot innovative finance solutions, including blended finance and ecosystem-based revenue models.

As countries work to implement the Kunming-Montreal Global Biodiversity Framework, Kenya’s approach highlights the critical role of finance in turning global commitments into tangible outcomes on the ground.

By aligning public and private investment with nature, BIOFIN Kenya aims to demonstrate how biodiversity finance can drive economic resilience while safeguarding ecosystems for future generations.