INSIGHT by BIOFIN
The Database on Finance Resources (FIRE) can help you match your funding needs with funding opportunities
Are you an NGO working to protect tiger habitats but lacking the funding to do so? Or a young scholar eager to investigate marine life but unable to afford necessary field trips? Or a company committed to reducing its impact on biodiversity but lacking the necessary capital? You’re not alone. These challenges are faced by many organizations and individuals in the fight to protect our planet’s biodiversity.
| The Funding Gap
One of the biggest obstacles to deliver on biodiversity targets is the lack of funding across the various actors. The estimated funding gap for biodiversity-related actions is between $599 billion and $824 billion annually. To close this gap, we need to increase funding and improve the efficiency and effectiveness of how we allocate financial resources. This requires collaboration between governments and non-government actors to make sure funding is distributed to the right projects.
| The One-Stop Shop Solution
Enter the Database on Finance Resources (FIRE). This database, built by and for biodiversity experts, connects funding opportunities with fund-seeking projects to ensure that the available resources are channeled to the best-fitting initiatives. To support the implementation of the Global Biodiversity Framework, FIRE aims to contribute to resource mobilization for individuals, citizen-led movements, NGOs, private organizations, and public institutions.
The database allows you to filter through hundreds of funding opportunities. Those opportunities sometimes focus directly on supporting conservation, but often also cover different ecosystems, cross-cutting activities such as awareness raising and knowledge generation, conservation measures, and pollution management. The funding opportunities range from grants to loans and equity, with amounts ranging from below $5,000 to over $10 million.
| The Next Steps
All that’s left for people and projects is to use the tool. To get started, simply visit FIRE, initiated by BIOFIN with support from UNEP FI, Campaign for Nature, Cornell, Conservation Finance Alliance and filter the opportunities to find the best fit for your project. Then initiate the funding process by checking the calls for application or reaching out to the funders. Finally, implement your action for biodiversity!
As we are about to start this matching support, your feedback is also very much appreciated. Do you have any hint on how to make the search easier for you? Do you see any gaps in content? Can we improve the functionality and tailor the database further to your needs? Make sure to attend our webinar to learn more and support us in making sure that existing funding for biodiversity is used efficiently and reaches the different biodiversity projects.
Funding has never been easier. Join us on during the environment day on June 5th at 9am EDt / 3pm CEST for a webinar to learn more about how to use FIRE and find the funding you need to make a difference.
BIOFIN was initiated in response to the urgent global need to divert more finance from all possible sources towards global and national biodiversity goals, as highlighted during the 2010 CBD COP 10 in Nagoya.
| All opinions expressed are those of the author and/or quoted sources. investESG.eu is an independent and neutral platform dedicated to generating debate around ESG investing topics.