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18.2. Develop targeted measures to eliminate or repurpose the incentives most damaging to species.
Primary tools and resources
WTO Agreement on Fisheries Subsidies
The World Trade Organization (WTO) Agreement on Fisheries Subsidies, was adopted at the 12th Ministerial Conference (MC12) on 17 June 2022. It prohibits harmful fisheries subsidies, which are a key factor in the widespread depletion of the world’s fish stocks.
Members also agreed at MC12 to continue negotiations on outstanding issues with a view to making recommendations by MC13 for additional provisions to further enhance the disciplines of the Agreement.
Tracking Economic Instruments and Finance for Biodiversity
The OECD Environmental Policy Committee, through its unique database of Policy Instruments for the Environment (PINE), collects quantitative and qualitative information on policy instruments from more than 120 countries worldwide. This brochure presents statistics on the biodiversity-relevant economic instruments and the finance they mobilise, based on
currently available data. The brochure also includes information on payments for ecosystem services (PES) and on biodiversity offsets, two other types of economic instruments that provide incentives for biodiversity conservation and its sustainable use.
BIOFIN The Nature of Subsidies: A step-by-step guide to repurpose subsidies harmful to biodiversity and improve their impacts on people and nature
The Biodiversity Finance Initiative (BIOFIN) of United Nations Development Programme (UNDP) has developed this guide to assist countries in assessing to what extent government subsidies are having harmful impacts on biodiversity, and to create action plans to repurpose them to become more nature-positive and enhance positive impacts for both people and nature. The BIOFIN Catalogue of Financing Solutions summarizes over 150 possible financing mechanisms to help countries understand which financing mechanisms are already used around the world. Countries can use this Catalogue to determine priorities for their national biodiversity finance plan.
How to use
The step-by-step guide can be downloaded at:
Further information on BIOFIN and the Catalogue of Financing Solutions are available at:
Other tools and resources
Agricultural support, biodiversity, and trade
At World Trade Organization (WTO), the key characteristic according to which support to agricultural producers is classified is their ability to distort international trade rather than their incidence and impacts on social or environmental dimensions. There is a lack of studies and analytical framework to guide policy decisions, such as understanding how specific support, in general, and in different agricultural sub-sectors, are linked to biodiversity, economic, social, and trade outcomes. In this context, our work contributes to filling this gap. We originally combined several data sources on support to agricultural producers (different types), land use (and notably the supported harvested cropland area), threats to species, and international trade.
Solutions and case studies
Ceasing Harmful Coastal Construction Subsidies to Protect Biodiversity in the Surroundings of the Mrigadayavan Palace, Thailand
The Mrigadayavan Palace, built in 1924 between the beach towns of Cha-Am and Hua Hin, was the summer house of King Vajiravudh, who ruled until 1925. To prevent coastal erosion and protect this cultural landmark, The Marine Department of Thailand (Ministry of Transport) constructed groins, seawalls, and jetties along the beach near the palace. These rigid structures cost USD 8.4 million in subsidies.
National experts, partners, and the Biodiversity Finance Initiative (BIOFIN) of the United Nations Development Programme (UNDP) measured the impact of subsidies on ecosystems in Thailand. After the team found that rigid coastal structures had accelerated erosion instead of preventing it, they presented these results to the Department of Marine and Coastal Resources (Ministry of Natural Resources and Environment).
As a result, the Thai cabinet ceased subsidies for coastal rigid structures near the palace. Existing structures were replaced with nature-based solutions, restoring the ecosystem and protecting cultural heritage.
Green Credit and Loans in Ecuador: Supporting small entrepreneurs, empowering vulnerable groups, and using an automated software to assess social and environmental risks
Ecuador is one of the world’s 17 megadiverse countries, with rich fauna and flora. However, economic reliance on non-renewable resources and unsustainable agricultural practices have threatened its biodiversity. Sustainable entrepreneurship offers an alternative to align economic activities with environmental protection. Yet, low-income women, youth, and other vulnerable groups face barriers in accessing credit to start small businesses.
Amid this situation, the National Corporation of Popular and Solidarity Finance (CONAFIPS) of Ecuador, with support from the United Nations Development Programme (UNDP)’s Biodiversity Finance Initiative (BIOFIN), developed a Social and Environmental Risk Management System (SARAS) tool: a free and automated software that enables credit unions to screen loan applications against social and sustainability criteria.
As of August 2024, credit unions approved USD 804 million in green credit using SARAS, fostering a nature-positive economy, conserving biodiversity, and supporting women and the youth.
