?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.title=Bridging+the+Gap+in+Biodiversity+Financing%3A+A+review+of+assessments+of+existing+and+needed+financial+flows+for+biodiversity%2C+and+some+considerations+regarding+their+limitations+and+potential+ways+forward&rft.creator=Gonon%2C+Morgane&rft.creator=Svartzman%2C+Romain&rft.creator=Althouse%2C+Jeffrey&rft.description=Global+sustainability+policy+and+discourse+increasingly+focus+on+closing+a+%E2%80%9Cfinancing+(or+funding)+gap%E2%80%9D+to+meet+global+goals+for+climate+and+biodiversity.+In+particular%2C+the+Global+Biodiversity+Framework+(GBF)%2C+adopted+by+196+countries+in+2022%2C+seeks+to+fill+a+finance+gap+of+US%24+700+billion+by+2030+to+effectively+halt+and+reverse+biodiversity+loss.%0D%0A%0D%0AAgainst+this+backdrop%2C+this+report+seeks+to+provide+clarity+on+the+current+state+of+%22global+biodiversity+finance%22+and+related+challenges+and+debates.+It+first+details+the+existing+assessments+of+both+existing+financial+flows+and+future+funding+needs+for+biodiversity%2C+including+details+on+the+various+methodologies+used+to+estimate+the+amounts+concerned%2C+the+type+of+financial+instruments+considered%2C+and+the+sectors+and+activities+targeted.%0D%0A%0D%0AEstimates+of+current+global+biodiversity+finance+significantly+vary+across+studies%2C+from+a+minimum+of+US%24+78+billion+to+a+maximum+of+US%24+200+billion+annually.+Despite+their+methdological+differences%2C+some+general+patterns+emerge+across+studies.+Domestic+public+expenditures+are+by+far+the+main+component+of+biodiversity+financing+today.+While+most+of+the+current+funding+is+currently+coming+from+and+supporting+action+in+high-income+countries+(mainly+the+US%2C+Italy%2C+France%2C+and+Germany)%2C+China+has+a+growing+role+in+domestic+and+international+biodiversity+financing.+Additionally%2C+studies+highlight+that+multilateral+public+expenditure+and+private+finance+are+on+the+rise%2C+including+through+the+development+of+market-based+mechanisms+such+as+biodiversity+credits.%0D%0A%0D%0AThis+report+also+discusses+the+meaning+and+limitations+of+such+assessments.+In+particular%2C+we+argue+that+by+focusing+predominantly+on+%E2%80%9Cbridging+a+financing+gap%E2%80%9D%2C+these+studies%2C+and+the+policy+discussions+using+them%2C+risk%3A+(i)+concealing+the+key+underlying+barriers+to+protecting+biodiversity%2C+including+specific+socioeconomic+dynamics+cannot+be+reduced+to+a+%E2%80%9Clack%E2%80%9D+of+financing+(e.g.+rich+countries%E2%80%99+consumption+patterns+that+drive+biodiversity+loss+worldwide)%3B+(ii)+diverting+attention+from+more+important+questions+related+to+transforming+the+financial+system+itself%2C+especially+the+need+to+reform+the+international+financial+architecture+so+as+to+enable+low-+and+middle-income+countries+to+access+long-term+public+funding+for+their+sustainable+development.%0D%0A%0D%0AWhile+not+intending+to+provide+an+exhaustive+look+into+such+questions%2C+the+report+calls+for+future+research+to+clarify+how+the+need+to+expand+access+to+finance+(the+%E2%80%9Cfinance+gap+approach%E2%80%9D)+must+be+assessed+jointly+with+the+need+for+transformative+socioeconomic+changes+to+achieve+sustainability+goals%2C+including+potential+transformations+of+the+financial+system+itself+(a+%E2%80%9Ctransforming+finance+approach%E2%80%9D).&rft.publisher=UCL+Institute+for+Innovation+and+Public+Purpose+(IIPP)&rft.date=2024-10-18&rft.type=Working+%2F+discussion+paper&rft.language=eng&rft.source=++++(UCL+Institute+for+Innovation+and+Public+Purpose%2C+Working+Paper+Series++2024-14).+UCL+Institute+for+Innovation+and+Public+Purpose+(IIPP)%3A+London%2C+UK.+(2024)+++++&rft.format=text&rft.identifier=https%3A%2F%2Fdiscovery.ucl.ac.uk%2Fid%2Feprint%2F10200099%2F1%2FSvartzman_new_wp2024-14.pdf&rft.identifier=https%3A%2F%2Fdiscovery.ucl.ac.uk%2Fid%2Feprint%2F10200099%2F&rft.rights=open