A PIR is a widely used approach to assess strengths and weaknesses of policies and institutions within a given sector (see examples in Box 3.1). They focus on the adequacy of existing policies, identifying gaps, translating policies into practice and examining the functionality of existing institutional frameworks.
PIRs are effectively system analyses and have been applied across many different sectors. They are required under BIOFIN to better understand the complexity of drivers of biodiversity loss and their connection to finance flows. Because nature interacts with so many economic sectors, BIOFIN must analyse a diverse set of drivers to understand and influence the current trajectory of development to improve its outcomes for biodiversity
Box 3.1: Examples of Policy and Institutional Reviews
Climate Change: Since 2011, Climate Public Expenditure and Institutional Reviews (CPEIRs)2 have been conducted in Asia-Pacific countries. Results include budget marking and tagging in Nepal and Indonesia; national and subnational climate change financing frameworks in Cambodia; and focused sectoral analyses in Cambodia and Thailand.
Other themes: Other examples include forest and fire management,3 water,4 transportation,5 and health.6The International Institute for Environment and Development (IIED) provides a comprehensive approach through its report on policies affecting biodiversity and livelihoods,7examining biodiversity governance at local, national and international levels, using country case studies.