Turning political ambition into country action for nature
The Yerevan Biodiversity Finance Challenge is the country-level implementation platform of the COP17 Presidency of Armenia’s Flagship Initiative on Positive Incentives.
Launched at COP17 in Armenia in October 2026, the initiative leads include IISD, UNDP and its Biodiversity Finance Initiative (BIOFIN), OECD and the CBD Secretariat, with the support of champion countries.
It aims to build political momentum and strengthen the enabling environment to scale up positive incentives, improve their effectiveness, accessibility and environmental integrity, and advance reform of subsidies harmful to biodiversity—accelerating implementation of Target 18 of the Kunming-Montreal Global Biodiversity Framework.
The Flagship brings together three connected components to advance Target 18: the Yerevan Call on Incentives Positive for Biodiversity, a high-level declaration to be launched at COP17, sets the political ambition for scaling up positive incentives and reforming incentives harmful to biodiversity; the Friends of Target 18, a coalition of ambitious countries and stakeholders, sustains political and technical cooperation through knowledge exchange and peer learning; and the Yerevan Biodiversity Finance Challenge translates that ambition into country-level action by helping governments identify and design positive incentives, strengthen biodiversity finance planning and mobilize resources for implementation.
Together, they connect political leadership, sustained cooperation and practical delivery to align public policy and financial flows with global biodiversity goals.
A platform for lasting change
Closing the biodiversity finance gap requires both mobilizing more resources for nature and addressing public spending and incentives that work against it.
With UNDP serving as Secretariat the Challenge will bring ministries of finance, planning and environment together with technical advisors to:
- Advance national reforms: Address the institutional, legislative and fiscal barriers that hold back biodiversity finance.
- Connect countries and expertise: Share practical experience and solutions through a sustained community of practice.
- Strengthen tools and knowledge: Develop and share methodologies for biodiversity expenditure tracking and public finance reform.
- Mobilize further support: Build partnerships and attract additional co-financing and future investment opportunities.
- Sustain political momentum: Keep Targets 18 and 19 on the agenda in international financial discussions.
The first funded country projects will generate practical experience and approaches that can be shared and scaled through this wider platform.
Two priorities for country action
Delivering Target 19
Make biodiversity part of everyday budgeting
Integrate biodiversity into national public financial management so that spending on nature is visible, tracked and sustained across annual budget cycles.
Support will focus on moving beyond standalone expenditure studies towards lasting systems, including biodiversity budget tagging, performance-based budgeting and environmental expenditure tracking.
Delivering Target 18
Align public incentives with nature and livelihoods
Help governments assess spending and incentives harmful to biodiversity, identify priorities for reform and redirect public resources towards nature-positive outcomes.
A just and equitable transition is central to this work. Reforms should protect rural livelihoods, safeguard social safety nets and support vulnerable communities while encouraging activities such as regenerative agriculture, sustainable fisheries and ecosystem stewardship.
Build the next phase with us
The Challenge is designed to grow. Beyond the opening call, it will connect country demand with technical expertise, peer learning and additional financing.
Governments, development partners and technical organizations are invited to help shape this longer-term effort—sharing experience, contributing expertise and expanding the resources available for country action.