Environment & Biodiversity - GS questions based on daily current affairs for Q. 18941
Q. BIOFIN is- Published on 15 Jan 16a. A new and efficient variant of biodiesel
b. Initiative to assess resources and expenditure for biodiversity conservation
c. Vaccine against drug resistant malaria
d. None of the above
ANSWER: Initiative to assess resources and expenditure for biodiversity conservation
The United Nations Development Programme (UNDP) is implementing a global multi-country project on Biodiversity Finance Initiative (BIOFIN), which provides tools and methodological framework for measuring expenditure on biodiversity, which the countries may choose to use in their efforts to mobilize resources required for achieving the global and national biodiversity targets. In response to an invitation from UNDP, the Ministry of Environment, Forests & Climate Change has communicated its willingness to participate in the BIOFIN project in India, emphasizing that BIOFIN implementation in India would be completely country-driven, taking into account the activities already undertaken by India for development of national biodiversity targets and for assessing funding for biodiversity in the country. For the purpose of implementing BIOFIN project, the Ministry has also identified National Biodiversity Authority as the host organization.
BIOFIN is India's Biological Finance initiative that has been drafted to perform four crucial activities. The first is to review biodiversity policies and estimate the amount of money the public and private sector are spending on biodiversity or need to spend on it. The second phase would be to figure out a definitive action plan for preserving biodiversity. Third is to raise the finances and revenue to work on the above mentioned strategies and finally the most important phase of implementation.
