Latin America and Caribbean leaders Accelerate Efforts to Integrate Biodiversity into Economic and Financial Systems

More than 100 biodiversity finance experts from 28 countries gather in Mérida for a landmark regional dialogue on biodiversity finance

Merida, Mexico, 4 November 2025 - Over 100 experts in biodiversity finance, along with senior government representatives from 28 countries across Latin America and the Caribbean, are convening this week in Mérida, Mexico, for the 11^th Regional Dialogue on Biodiversity Finance. The event is one of the region’s most significant gatherings focused on aligning finance with nature.

The Dialogue is hosted by the Yucatán government in Mexico and the United Nations Development Programme’s Biodiversity Finance Initiative-BIOFIN.

“Investing in nature is investing in the future of our people. Yucatán is demonstrating that biodiversity is not an obstacle to development, but a foundation for prosperity, resilience, and long-term economic growth,” said Joaquín Díaz Mena, Governor of Yucatán.

“BIOFIN has shown us that intelligent financing for biodiversity is not only possible—it is essential. By aligning resources with nature-positive development, we can turn environmental stewardship into a shared engine of social, economic, and climate resilience,” he said.

The event marks the 10-year anniversary of BIOFIN in Mexico, having catalysed over US$14 million for biodiversity-related initiatives.

“UNDP’s approach connects the dots between climate change, biodiversity loss, and sustainable development, showing that when we invest in nature, we are also investing in resilience, equity, and the long-term stability of our economies”, said Silvia Morimoto, UNDP Resident Representative in Mexico.

“Hosting this Dialogue in Mexico is highly significant; it reflects the country’s decade-long leadership in biodiversity finance and its commitment to finding integrated solutions to global challenges.”

BIOFIN’s success in the region includes innovative finance solutions that are transforming how governments and businesses invest in nature, from indigenous business incubators in Costa Rica to biodiversity-linked insurance and subsidy reforms.

Biodiversity finance plans and finance solutions are currently being implemented in 41 countries. With support from the Global Environment Facility, an additional 91 countries have begun designing their Biodiversity Finance Plans using the BIOFIN methodology and are expected to implement them at a later stage.

“More than 90 countries are now developing biodiversity finance plans supported by BIOFIN,” said Mariana Bellot, Manager of the Global Biodiversity Finance Programme. “This momentum is driving the bold actions we need, at scale, to achieve the targets in the Kunming-Montreal Global Biodiversity Framework.”

“Scaling biodiversity finance is about more than mobilising funds — it’s about transforming systems and putting in place the conditions for sustained, recurring investment in nature and people,” said Martin Cadena, BIOFIN Global Manager.

“The progress we’re seeing across Latin America and the Caribbean shows what’s possible when these efforts are nationally owned, and partners provide catalytic support. By combining innovative instruments like green bonds, nature-based insurance, and biodiversity credits with strong public–private collaboration, we are demonstrating that finance can protect ecosystems while strengthening local livelihoods,” he said.

These efforts are integral to the UNDP Nature Pledge, a multi-year, high-ambition corporate commitment designed to support countries in transforming how their economies value, account for, and invest in nature.

Resource Mobilisation Milestone

The opening session was marked by a major announcement on BIOFIN’s global results by Onno van den Heuvel, Nature Finance Pillar Lead at UNDP.

Since 2018, BIOFIN has helped partner governments unlock more than US$2.7 billion in finance for nature globally.

This is a leap from US$1.7 billion in 2024 to now surpass US$2.7 billion in 2025. As the number of countries supported by BIOFIN expands, this figure is expected to increase exponentially in the coming years.

“This achievement belongs to our participating countries and has been possible through the steadfast support of our donors,” said Mr van den Heuvel.

“BIOFIN was never about producing plans for the sake of planning – it is about systemic change that unlocks real, recurring revenue for countries to invest in nature. Crossing the US $2.7 billion mark shows that when policies and institutions align with nature-positive goals, finance for nature can scale rapidly, delivering tangible results for people, economies, and the planet.”

^{Photo: Onno van den Heuvel, Nature Finance Pillar Lead at UNDP}

Spotlight on Regional Innovation

Over the three-day event, participants will focus on translating national biodiversity finance plans into actionable solutions. Countries will exchange lessons on what works, especially from early implementers, and explore next-generation approaches to mobilising finance at scale.

The Dialogue showcases real-world solutions from across the region:

• Argentina: The world’s first jaguar insurance scheme is turning human-wildlife conflict into a conservation opportunity, with 20,000 people insured in Misiones.
• Colombia: By reviewing harmful subsidies, the government reallocated nearly US$1 billion to greener, more inclusive investments.
• Mexico: Celebrates 10 years of BIOFIN launch in 2025, the country has mobilised nearly US$15 million for biodiversity finance through mechanisms including local conservation funds and sustainable finance taxonomies.
• Costa Rica: Mobilised US$94 million, including support for Indigenous-led business incubators managing over 2,200 hectares of forest through the RAICES programme.
• Ecuador: Integrated environmental safeguards into US$1 billion in microfinance lending through the popular economy sector.
• Cuba: Launched its first Payment for Environmental Services (PES) scheme, generating US$64,000 in its first year by incentivising sustainable forest management.

Why It Matters

Nature underpins the global economy. Over half of global GDP is dependent on healthy ecosystems. As biodiversity declines, so do jobs, food systems, and climate resilience. Yet the world faces a biodiversity finance gap of more than US$700 billion per year.

Platforms like this regional dialogue foster collaboration, unlock new ideas, and accelerate national and regional efforts to close the finance gap — a key target of the Kunming-Montreal Global Biodiversity Framework.

Amid declining levels of traditional development aid, BIOFIN’s Finance for Finance model focuses on strengthening public finance institutions, budget frameworks, and policy instruments that enable governments to mobilize sustained, domestic flows of finance for nature. 

The Biodiversity Finance Plans (BFPs) developed through BIOFIN are formally recognised under the Kunming–Montreal Global Biodiversity Framework as a key mechanism to translate national commitments into measurable action to mobilise finance for nature.