The Indufor North America team is currently developing a biodiversity/ environmental impact investment tracking application tool for public and non-governmental (NGO) actors in Belize. Funded through the United Nations Development Program (UNDP), this project is a component of a national BIOFIN Initiative in Belize.
The Global Biodiversity Finance Initiative (BIOFIN) aims to direct funding from all possible sources towards global and national biodiversity goals. Its objective is to deliver a new methodological framework, facilitating the identification, development and implementation of optimal and evidence-based finance plans and solutions.
The tool development is embedded in the implementation of Belize’s sustainable development and environmental management frameworks. It is the first of its kind in the Global BIOFIN Initiative and seeks to embed the principles and practice of results-based management in environmental and financial planning at a national level.
The pilot tool is being designed for implementation through the Ministry of Agriculture, Fisheries, Forestry, the Environment, Sustainable Development and Immigration (MAFFESDI), with input from NGOs. It is being designed to demonstrate the impact of investments in biodiversity and environmental management, through a series of concrete and measurable indicators of input, output and outcome, and towards the achievement of priority national and global environmental and socio-economic goals. The tracking and analysis functions of the tool are being built out to provide insight into synergies, overlaps, gaps and impact of tracked expenditure, as well as aid in annual reporting by MAFFESDI on the environmental, social and economic impact of investments in biodiversity/ environmental management.
In January of this year, the project team conducted validation sessions in Belmopan, Belize to get stakeholder input on the impact monitoring framework, as well as the key performance indicators to be tracked through the tool. Participants included representatives from departments within MAFFESDI and other government ministries, managers of protected areas and environmental organizations.
In March, the team will return to Belize to complete training sessions with the purpose of building institutional capacity to operationalize the management tool, and technical capacity to evaluate the effectiveness of investments in biodiversity and environmental management.