Mainstreaming Biodiversity into the Botswana's Financial Sector (MBBF)

Botswana’s biodiversity represents a huge natural asset, underpinning the livelihoods of local communities, food security, the viability of businesses and core sectors of the economy. However, on-going risks to Botswana’s natural assets such as land degradation, habitat conversion, pollution, invasive species and the overuse of natural resources, leave the economy and society vulnerable. There is also a significant biodiversity funding gap. <br>
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The GEF investment will reduce threats to biodiversity by building awareness of the financial and economic risks of biodiversity degradation and loss and strengthening the capacity of the financial sector to identify and promote private sector investments (additional finance) in nature protection. It will also enhance the opportunities for Indigenous peoples and local communities (IPLCs) to sustainably utilize natural resources within their territories, respecting their cultural knowledge and practices. <br>
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The objective of the project is to mainstream biodiversity into the Financial Sector and enable the flow of finance towards nature-positive investments away from harmful activities/ practices. The project objective will be achieved through four interrelated components:<br>
• Component 1. Strengthening cross-sectoral institutional capacities in the finance sector. <br>
• Component 2: Development of Green Tools and Systems. Specifically, a Green Taxonomy and guidance on nature risks and opportunities. <br>
• Component 3. Inclusivity, gender mainstreaming and risk management. The project will introduce innovative green financial products and solutions adapted to Small and Medium Enterprises (SMEs) and grassroots organizations, most of which are led by women and IPLCs. <br>
• Component 4. Monitoring and evaluation. <br>
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Under GEF 8 Biodiversity Focal Area, the project will enable Botswana to achieve its commitments to the GBF targets, particularly Target 15 and 19 (GBF Action Areas three - policy alignment and four - Resource Mobilization). The project is expected to build the necessary foundations for accelerating Botswana’s transition to an equitable, inclusive and green economy, through facilitating nature positive private sector investments and attracting finance from other diverse sources. <br>