OCDE - An overview of global biodiversity finance de 2026

OECD Environment Policy Papers An overview of global biodiversity finance No. 51 1

AN OVERVIEW OF GLOBAL BIODIVERSITY FINANCE © OECD 2026

An overview of global biodiversity finance

PUBE2 

AN OVERVIEW OF GLOBAL BIODIVERSITY FINANCE © OECD 2026

This work is issued under the responsibility of the Secretary-General of the OECD and does not necessarily reflect the official views of OECD Member countries. This document, as well as any data and map included herein, are without prejudice t o the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law. Note by the Republic of Türkiye The information in this document with reference to “Cyprus” relates to the southern part of the Island. There is no single authority representing both Turkish and Greek Cypriot people on the Island. Türkiye recognises the Turkish Republic of Northern Cyprus (TRNC). Until a lasting and equitable solution is found within the context of the United Nations, Türkiye shall preserve its position concerning the “Cyprus issue”. Note by all the European Union Member States of the OECD and the European Union The Republic of Cyprus is recognised by all members of the United Nations with the exception of Türkiye. The information in this document relates to the area under the effective control of the Government of the Republic of Cyprus.

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AN OVERVIEW OF GLOBAL BIODIVERSITY FINANCE © OECD 2026

Mobilising finance at scale is essential to halt and reverse biodiversity loss. This paper provides a comprehensive assessment of global biodiversity finance from all sources – public and private, domestic and international– drawing on currently available data. The paper also identifies persistent

Mobilising finance at scale is essential to halt and reverse biodiversity loss. This paper provides a comprehensive assessment of global biodiversity finance from all sources – public and private, domestic and international– drawing on currently available data. The paper also identifies persistent gaps in the consistency, international comparability, coverage and transparency of biodiversity finance data reported by countries to the Convention on Biological Diversity. It presents options to improve reporting by aligning it with international statistical standards, enhancing transparency in methodologies and strengthening measurement of private finance, while reducing duplication and reporting burdens.

Keywords: Biodiversity finance; environmental expenditure; public expenditure; environmental-ec onomic accounting; finance tracking.

JEL codes: Q57, Q58, H50.

Abstract4 

AN OVERVIEW OF GLOBAL BIODIVERSITY FINANCE © OECD 2026

This policy paper has been authored by Edward Perry (Biodiversity Policy A nalyst) and Katia Karousakis (Biodiversity Team Lead) of the OECD Environment Directorate. It has been prepared under the oversight of Walid Oueslati, Head of the Climate, Biodiversity and Water Division. The authors gratefully acknowledge helpful exchanges, feedback and comments on this paper from OECD colleagues namely, Mauro Migotto, Klas Wetterberg and Raphael Jachnik (E NV); Bram Edens, Bettina Wistrom and Amanda Penistone (SDD); and Juan Casado-Asensio, Daniela Ibarra Díaz an d Marisa Berbegal Ibáñez (DCD). Contributions from Nicolina Lamhauge (ENV) on an earlier v ersion are also gratefully acknowledged. Thanks are also due to delegates of the OECD Working Party on Bi odiversity, Water and Ecosystems (WPBWE) for feedback on the scoping of this work and its methodology. The paper has also benefitted from helpful exchanges and discussions with Carol ina Ardi and Isabelle Remond-Tiedrez (EUROSTAT), Aude Neville (European Commission – Joint Research Centre) and Zsolt

Water and Ecosystems (WPBWE) for feedback on the scoping of this work and its methodology. The paper has also benefitted from helpful exchanges and discussions with Carol ina Ardi and Isabelle Remond-Tiedrez (EUROSTAT), Aude Neville (European Commission – Joint Research Centre) and Zsolt Miskolczi (European Commission). The authors would also like to thank Martin Vaqui é, bloomslabs, for data provided on voluntary biodiversity credits. The authors are also grateful to Elodie Prata Leal and Sama Al Taher Cucci of the OECD Environment Directorate for their invaluable support throughout the preparation and publication of this paper. The OECD Secretariat also gratefully acknowledges voluntary contributions from the Netherlands, the United Kingdom, Germany, Belgium and Switzerland to support this work.

Acknowledgements 5

AN OVERVIEW OF GLOBAL BIODIVERSITY FINANCE © OECD 2026

Table of contents Disclaimers 2 Abstract 3 Acknowledgements 4 Executive Summary 7 1 Introduction: Biodiversity finance and the international context 10 2 Key findings on global biodiversity finance 12 2.1. Global biodiversity finance flows 12 2.2. Public domestic biodiversity expenditure 13 2.3. Public international finance for biodiversity 14 2.4. Private finance for biodiversity 15 2.5. Trends in biodiversity finance 16 2.6. Complementary information on finance through markets and instruments 17 3 Scope and methodological considerations 19 3.1. Definitions, scope and inclusion criteria 20 4 Improving data and reporting on biodiversity finance 23 4.1. Observations on national reporting to the CBD 23 4.2. Options for improving finance data and reporting 26 Annex A. Detailed methodology and data sources 29 Annex B. Public domestic expenditure: country coverage and source selection 39 Annex C. CEP Policy Areas and other possible categories relevant to biodiversity 45 References 48 Notes 516 

Annex A. Detailed methodology and data sources 29 Annex B. Public domestic expenditure: country coverage and source selection 39 Annex C. CEP Policy Areas and other possible categories relevant to biodiversity 45 References 48 Notes 516 

AN OVERVIEW OF GLOBAL BIODIVERSITY FINANCE © OECD 2026

FIGURES Figure 1. Biodiversity finance 2023-25 average 12 Figure 2. Landscape of biodiversity finance actors, instruments and mechanisms 19 Figure 3. Biodiversity finance reporting across Parties 26

Figure A A.1. Comparison of figures across three datasets covering domestic public biodiversity expenditure 31

TABLES Table 1. Complementary information on biodiversity finance through markets and financial instruments 18 Table 2. Nomenclature, terms and status of domestic public expenditure data classifications and approaches across different data sources 20

Table A A.1. First and second level COFOG Division No. 5 33 Table A A.2. Classification of Environmental Purpose 34 Table A B.1. Overview of public domestic biodiversity expenditure data coverage 39 Table A C.1. Other CEP categories that may include biodiversity-relevant information (e.g. as secondary purpose) 47

BOXES Box 1. Total international finance for biodiversity (public and private) reached USD 18.9 billion in 2024 15 7

AN OVERVIEW OF GLOBAL BIODIVERSITY FINANCE © OECD 2026

Executive Summary Reversing biodiversity loss will require accelerated action to strengthen biodiversit y policies and translate commitments into effective implementation. Mobilising finance at scale is essential to support these efforts and deliver effective biodiversity outcomes. Consistent, comparable and transparen t tracking of biodiversity finance is therefore needed to assess its scale and sources, unders tand the contributions of public and private actors, and evaluate progress towards biodiversity finance objectives . This paper provides a global estimate of public and private biodiversity financ e from both domestic and

and deliver effective biodiversity outcomes. Consistent, comparable and transparen t tracking of biodiversity finance is therefore needed to assess its scale and sources, unders tand the contributions of public and private actors, and evaluate progress towards biodiversity finance objectives . This paper provides a global estimate of public and private biodiversity financ e from both domestic and international sources. The paper also highlights persistent gaps in biodiversi ty finance data and reporting and provides recommendations to improve finance tracking. Greater consistency, comparability, coverage and transparency of biodiversity finance data are essential for accountability and better policy and investment decisions. An estimate of global finance for biodiversity Global biodiversity finance is estimated at USD 74.9-92.4 billion annually (2023-25 annual average), based on currently available data. This includes public and private finance from both domestic and international sources. The range reflects methodological assumptions rather than statistical confidenc e intervals. • Public domestic biodiversity expenditure: USD 46.0-63.5 billion annually (2023-25 average). The estimates cover 104 countries, representing 61% of global GDP. They include varying combinations of finance for which biodiversity is either a primary or secondary objective, reflecting differences in reporting approaches by countries. The lower-range estimate includes ex penditure reported by countries only, while the upper-range estimate additionally includ es expenditure reported by the European Union, some of which may overlap with expenditure reported by EU Member States. • Public international biodiversity finance: USD 16.1 billion annually (2023-24 average). This covers bilateral and multilateral flows, including official development finance and South-South Cooperation. The estimate counts 100% of the finance associated with activities where biodiversity is a principal objective, and 40% of the finance associated with activities for which bi odiversity is a significant objective. Total international finance – encompassing both public and private finance – reached USD 18.9 billion in 2024. • Private domestic and international biodiversity finance: USD 12.9 billion annually (2023-25 average). This includes private investment, philanthropy and other private financial flows.

significant objective. Total international finance – encompassing both public and private finance – reached USD 18.9 billion in 2024. • Private domestic and international biodiversity finance: USD 12.9 billion annually (2023-25 average). This includes private investment, philanthropy and other private financial flows. These estimates are not directly comparable with OECD’s 2020 estimates due to differences in the availability, coverage and underlying methodologies of the country data, as well as the lack of comparable private finance datasets. While consistent time-series data remain limited, they indicate that biodiversity finance increased between 2018-20 and 202324. Public domestic expenditure on biodiversity across a sample of 63 coun tries with8 

AN OVERVIEW OF GLOBAL BIODIVERSITY FINANCE © OECD 2026

consistent time-series data increased by 16% in real terms. International public financ e for biodiversity increased by 94%. Private-finance data also show increasing trends overall , with a rise in both finance mobilised by official development interventions and broader private investment, although reported philanthropic flows declined overall. The public finance estimates are derived from government-reported data provided through : Domestic • 7th National Reports to the Convention on Biological Diversity (CBD); • International statistical classifications namely Government Finance Statist ics (GFS), using the Classification of Functions of Government (COFOG) and Environmental Protection Expenditure Accounts (EPEA), using the Classification of Environmental Purpose (CEP); International • The OECD Creditor Reporting System, complemented with Total Official Support for Sustainable Development. Comparison across the available public domestic biodiversity finance data sources reveals no systematic differences in expenditure levels. No single data source gives consistently higher or lower estimat es. The private finance estimate is based on a variety of sources, including estimates from other analytical assessments of private investment in biodiversity, two OECD datasets on philanthropic funding and financial reports of non-governmental organisations. Overall, this paper’s methodology is conservative to minimise the risk of double counting, recognising that

The private finance estimate is based on a variety of sources, including estimates from other analytical assessments of private investment in biodiversity, two OECD datasets on philanthropic funding and financial reports of non-governmental organisations. Overall, this paper’s methodology is conservative to minimise the risk of double counting, recognising that the same underlying finance can appear at several stages of the financial value c hain and in different datasets. Furthermore, due to incomplete reporting and data gaps, actual global biodiversity finance is likely to be higher. Data gaps and inconsistent reporting approaches in national reports to the CBD limit the ability to assess global progress Despite some progress in biodiversity finance tracking, significant gaps and i nconsistencies remain. For example, of the 142 Parties that had submitted 7th National Reports to the CBD by mid-September 2026 , 78 reported at least some quantitative data on public domestic finance, 95 on publ ic international finance (as recipients or donors) and 42 on private finance. At the same time, existing data sources based on international statistical classifications remain underused: 40 countries that did not report recent domestic biodiversity expenditure, including 13 that did not submit 7 th National Reports, have biodiversity and landscape protection expenditure data available through the COFOG and CEP. Furthermore, reporting approaches vary considerably, with some countries relying on international s tatistical classifications and others using nationally developed methodologies, thus limiting comparability. Options to improve consistency, comparability and coverage of biodiversity finance reported to the CBD Improve consistency and comparability of data across countries • Encourage Parties to disaggregate reporting on biodiversity finance into “ direct” and “indirect” finance across all public domestic, public international and private finance. • Encourage Parties to adopt a common approach to reporting on “direct” public domestic finance based on primary purpose biodiversity expenditure classified under COFOG 05.4 or CEP 0502. 9

AN OVERVIEW OF GLOBAL BIODIVERSITY FINANCE © OECD 2026

• Consider aligning CBD terminology and definitions with international statistical c lassifications e.g.

based on primary purpose biodiversity expenditure classified under COFOG 05.4 or CEP 0502. 9

AN OVERVIEW OF GLOBAL BIODIVERSITY FINANCE © OECD 2026

• Consider aligning CBD terminology and definitions with international statistical c lassifications e.g. referring to “direct” biodiversity finance as “primary-purpose” biodiversity expenditure. • Develop guidelines for reporting on “indirect” public domestic biodiversity finance, requiring disclosure of the data source (e.g. GFS-COFOG, EPEA-CEP); classification code (e.g. CEP 0501); and the coefficient applied to estimate the biodiversity-relevant share. Progressively align guidance with future COFOG and CEP methodologies for capturing secondary-purpose expenditure. • Encourage Parties to disaggregate data on international public biodiversity finance by principal and significant objective, and private finance by direct and indirect finance, with dis closure of any coefficients applied.

Expand data coverage • Expand country coverage of public domestic biodiversity expenditure by encouraging Part ies to report existing data classified under COFOG 05.4 or CEP 0502 data. • Strengthen national collection and reporting of private biodiversity expenditure by establishing regular reporting mechanisms for business and other private actors, expanding national accounts to better cover corporate biodiversity expenditure according to CEP 0502, and enhancing national data infrastructure such as public registries for biodiversity offsets, biodiversity credi ts and payments for ecosystem services. Strengthen international co-ordination and exchange • Promote international exchange of national approaches for tracking and reporting public and private biodiversity finance, including opportunities to harmonise methods, strengthe n publicprivate data partnerships and replicate comparable reporting practices across countries. • Engage with the ongoing COFOG revision process to improve alignment w ith CEP to the extent possible, and to further explore options for treating primary and secondary-purpose expenditure in CBD reporting across all sources of finance. Encourage CBD Focal Points and Resou rce Mobilisation experts to follow the COFOG revision to ensure their policy needs are met.10 

possible, and to further explore options for treating primary and secondary-purpose expenditure in CBD reporting across all sources of finance. Encourage CBD Focal Points and Resou rce Mobilisation experts to follow the COFOG revision to ensure their policy needs are met.10 

AN OVERVIEW OF GLOBAL BIODIVERSITY FINANCE © OECD 2026

Reversing biodiversity loss will require more ambitious and accelerated action t o strengthen biodiversity policies and translate commitments into effective implementation. Mobilising finance at scale is essential to support these efforts and deliver effective biodiversity outcomes. Financial r esources are needed to protect species, ecosystems and genetic diversity, including through effectively managed protected areas; restoration of degraded ecosystems; and supporting transitions to more sustainable patterns of production and consumption. Resources are also needed to strengthen the institutions, monitoring systems and other enabling conditions required for effective action. The need to mobilise additional biodiversity finance is widely recognised . Target 19 of the KunmingMontreal Global Biodiversity Framework (KMGBF), for example, calls for a substantial increase in financial resources from all sources and the mobilisation of at least USD 200 billion per year by 2030 to support biodiversity action. Yet despite efforts through international conventions such as the Convention on Biological Diversity (CBD), international organisations, national statisti cal offices, and private sector initiatives, to track biodiversity finance, the data remains incomplete, fragmented and not always consistent or comparable across countries. The revised draft CBD report on collective progress towards the KMGBF, for examp le, estimates biodiversity finance from all sources at USD 32.7 billion in 2023 (CBD, 2026 [1]). As this paper shows, this low collective estimate stemming from the 7 th National Reports to the CBD reflects poor data coverage across countries and incomplete reporting. The biodiversity finance data are also inconsistent and not comparable across countries, despite the adoption of headline indicators which was intended to address these issues (OECD, 2019[2]). Assessing progress towards national and international biodiversity finance objec tives requires robust

across countries and incomplete reporting. The biodiversity finance data are also inconsistent and not comparable across countries, despite the adoption of headline indicators which was intended to address these issues (OECD, 2019[2]). Assessing progress towards national and international biodiversity finance objec tives requires robust information on biodiversity finance flows from both public and private actors. E mbedding biodiversityfinance tracking and reporting approaches into established international statistical c lassifications would reduce duplication, reporting burdens and costs, while improving the consistency and international comparability of data. Better information on biodiversity finance can, in turn, i nform policy and investment decisions, help identify financing gaps and provide a stronger evidence base for policymakers, parliaments, auditors, civil society and international partners to evaluate progress towards biodivers ity finance objectives and ultimately broader biodiversity goals. Building on the OECD’s first comprehensive estimate of global biodiversity finance (OECD, 2020[3]), this paper provides a transparent estimate of biodiversity finance across all sources. It compiles and analyses available data on domestic public expenditure, international public finance and private biodiversity finance (i.e. KMGBF headline indicators D1, D2, D3). 1 The paper also examines key methodological and datarelated challenges for measuring and reporting biodiversity finance and provides proposals to enhance the consistency, comparability, coverage and transparency of biodiversity finance data acr oss countries. While this paper focuses primarily on the volume of biodiversity finance and how d ata could be improved, the effectiveness with which finance is mobilised, targeted and deployed also matters for achi eving 1 Introduction: Biodiversity finance and the international context 11

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biodiversity outcomes. These issues are examined in complementary OECD work on go od practices to mobilise public and private finance (OECD, 2026 [4]) and on scaling up biodiversity-positive incentives

(OECD, 2025[5]).

This paper is organised as follows: Section 2 presents the key findings for publ ic domestic, public

mobilise public and private finance (OECD, 2026 [4]) and on scaling up biodiversity-positive incentives

(OECD, 2025[5]).

This paper is organised as follows: Section 2 presents the key findings for publ ic domestic, public international, and private (domestic and international) finance, together with complem entary data on biodiversity-related markets and financial instruments. Section 3 describes the scope and methodological approach. Section 4 assesses data limitations and reporting gaps and proposes options for improving consistency, comparability, coverage and transparency of biodiversity finance data including strengthening links to international statistical classifications. Detailed data sources, processing rules and calculations are provided in the annexes.12 

AN OVERVIEW OF GLOBAL BIODIVERSITY FINANCE © OECD 2026

2.1. Global biodiversity finance flows Global biodiversity finance from all sources – domestic and international finance from public and private sources – is approximately USD 74.992.4 billion per year (equivalent to around 0.07-0.08% of global GDP), based on currently available data. Th is estimate represents an annual average across available observations for 202325. Public domestic expenditure represents the largest component (61-69%). International public and private finance provide smaller but material contributio ns, accounting for approximately 17-21% and 14-17% of the total, respectively (Figure 1). While important data gaps and methodological constraints remain, the consistent, time-series data that are available, covering 2018-2025, suggest that public and private biodiversity finance has increased (section 2.5). It is also important to note that the aggregate estimate presented here is not directly comparable with the OECD (2020[3]) estimates, which were based on 2015-17 data, owing to differences in data coverage, underlying reporting methodologies of the country data and the lack of comparable data on private finance (see section 2.5 for further detail). Figure 1. Biodiversity finance 2023-25 average

underlying reporting methodologies of the country data and the lack of comparable data on private finance (see section 2.5 for further detail). Figure 1. Biodiversity finance 2023-25 average

Note: Box areas are based on the arithmetic midpoint of the reported lower an d upper estimates for visual comparability. These midpoints are illustrative and should not be interpreted as central or expected estimates.

Source: OECD analysis. 2 Key findings on global biodiversity finance 13

AN OVERVIEW OF GLOBAL BIODIVERSITY FINANCE © OECD 2026

2.2. Public domestic biodiversity expenditure 2.2.1. Total estimate of public domestic finance for biodiversity Public domestic expenditure accounts for the largest share of total biodiversity finance , estimated at USD 46.0-63.5 billion per year, averaged over 2023-25, and is based on the data sources and methodology summarised below. The lower-range estimate reflects an average of annual biodi versity expenditure covering 104 countries, while the upper figure also includes average annual expenditure of approximately USD 17.5 billion reported to the CBD by the European Union (EU). Because some EU expe nditure may also have been reported by individual EU Member States as domestic expenditure in their reporting to the CBD, the upper figure is likely subject to some degree of double counting. The 104 countries included in the compilation account for 61% of the world’s GDP,2 82% of OECD member countries and 74% of the Group of Twenty Nations [G20] member countries by number. The estima te therefore covers many large economies, but it remains incomplete. For example, it excludes India and the United States because 2023-25 data were not identified across the three data sources used in this analysis. The absence of these data is one of the reasons why the estimates of global biodiversity finance presented here should be interpreted as conservative. Across the 104 countries, domestic public expenditure on biodiversity averages 0.13% of GDP. The

The absence of these data is one of the reasons why the estimates of global biodiversity finance presented here should be interpreted as conservative. Across the 104 countries, domestic public expenditure on biodiversity averages 0.13% of GDP. The median is 0.07%, with the 25th and 75th percentiles at 0.02% and 0.13%, respectively. On a GDP-weighted basis, aggregate biodiversity expenditure represents 0.07% of the combined GDP of these c ountries. Applying these expenditureto-GDP ratios to global GDP yields an indicative estimate of global public domestic biodiversity expenditure of approximately USD 75-147 billion per year. 3 The lower estimate is based on the GDP-weighted expenditure ratio (0.07% of GDP), while the upper estimate is based on the unweighted average expenditure ratio (0.13% of GDP). These figures should be interpreted with caution, as they assume that countries without available data allocate a similar share of GDP to biodiversity as reporting countries. Consequently, they provide an indication of the possible order of magnitude of globa l public domestic biodiversity expenditure rather than a measured estimate. 2.2.2. Composition and comparability The public domestic biodiversity expenditure estimate is derived from three data sources: (i) expenditure reported through National Reports to the Convention on Biological Diversity, (ii) G overnment Finance Statistics (GFS) expenditure reported under the Classification of the Functions of Government (COFOG) category "biodiversity and landscape protection" (COFOG 05.4); and (iii) Env ironmental Protection Expenditure Accounts (EPEA) expenditure reported under the Classification of Env ironmental Purposes (CEP) category "biodiversity and landscape protection" (CEP 0502). The latter two data sources are based on international statistical classifications and therefore provide a more standar dised basis for comparison across countries. The estimate gives priority to data reported through CBD National Reports, and uses the other data sources to address gaps in country-level observations. An alternative approach would be to select the highest value across the three datasets. T his approach is

on international statistical classifications and therefore provide a more standar dised basis for comparison across c