Fourlh lntemational Research Symposium, Rajarata University of Sri Lanka

lnvesting in Biodiversity and Ecosystem Services

ISIBES 2018

Symposium Proceedings

ISSN 2235-9710

O 2018 Faculty of Social Sciences and Humanities, Rajarata University of Sri Lanka.
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 Proceedings of the 4'h International Research Symposittnt oJ Rajarata University oJ Sri Lanka
lnvestinginBiodiversiQandEcosystemSenices'CaringNature CrealingWealth'l7- l8Octoher20l8

A review of current status of biodiversity financing in Sri

Lanka
S.P. Vidanager, A. Senaratne2 and S. Abeyratne3

Atrstract
Biodiversity expenditure is considered as 'any expenditure whose pulpose is to have a
positive impact or to reduce or eliminate pressures on biodiversity'. How much Sri
Lanka spends on conserying biodiversity at present, how much more to be invested in
order to meet the national targets set for conseling biodiversity and means of meeting
those targets will be equally important to those who are iri biodiversity consewation as
well as to those who allocates finances at the national level. In order to assess these in a
rnethodical manner, this paper discusses the key findings of the above studies carried
out using BiOFIN (Biodiversity Financing Initiative on UNDP) tools applicable to Sri
Lanka. Review of public sector actual expenditure based on published Annual Reporls /
Annual Performance Reporl of the biodiversity relevant l9 public sector institutions
indicates that Sri Lanka had spent LKR 7.15 biliion on biodiversity related outcomes in
t
the country in 20 15, which is a 125 percent growth over the expenditure on biodiversity I
reported in 2010. The final needs were derived based on the National Biodiversity I

Strategic Action Plan of Sri Lanka together with National REDD+ Investment
Framework and Astion Plan, National Adaptation Plan for Climate Change in Sri Lanka
and National Action Programme for Combating Land Degradation in Sri Lanka. The
I
estimated incremental financial needs estimated for the period (covering 2018-2024)
was LKR 30.71 billion, which comes to 0.260/o of the 2016 Gross Domestic Product in
current prices which is also the financing gap for meeting biodiversity targets set by the
Govenrment of Sri Lanka up to 2024.

Keywortls: BIOFIN, Biocliversity erpenditure, Biodiversity fin.an.cial needs and biodiversity

financing plan

tIUCI,{, Sri Lanka Country Ol./ice, 53 Horton Place, Colombo 07. Corresponding author's
ema il :,s h amen.vi d an a ge @iucn. o r g
) IPS, Itlstitune of Policy Studies, 100/20, Independence Aventre Colombo 7 Sri Lanka.
3 [Jniversity of.Colontbo, PO Box ]490, Colombo 03.

62

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