On 30 July, a consultative workshop was held in Ashgabat as part of the UNDP project ‘Umbrella Programme to Support Development of Biodiversity Finance Plans’, funded by the Global Environment Facility (GEF) and implemented in partnership with the Ministry of Environmental Protection of Turkmenistan. This was reported by the IIC of Turkmenistan.

Participants discussed the findings of the Policy and Institutional Review (PIR) on biodiversity financing and the preliminary results of the Biodiversity Expenditure Review (BER) in Turkmenistan.

The project applies the methodology of the Biodiversity Finance Initiative (BIOFIN), which aims to assess funding needs, analyse current expenditure and identify opportunities to mobilise additional resources for the conservation of natural ecosystems.

The workshop addressed issues relating to public and private investment in biodiversity conservation, the state of the regulatory framework, and a preliminary assessment of expenditure in this area. Participants’ suggestions will be taken into account when preparing further analytical materials.

The findings will form the basis for developing a National Biodiversity Finance Plan and determining the resources required to achieve national targets in this area. The project also aims to improve environmental governance and enhance the effectiveness of investments in the conservation of natural capital.

According to Farhat Orunov, programme analyst for the UNDP’s environmental portfolio in Turkmenistan, the materials submitted will help to provide a deeper understanding of current expenditure on biodiversity conservation and the existing public policy mechanisms in this area.