ONGOING PROJECTS

Supported by: United Nations Development Programme (UNDP)

 

Start date: 02/2025- Ongoing

 

Biodiversity Finance Initiative (BIOFIN) is a global programme launched by the United Nations Development Programme (UNDP) and the European Commission, supporting up to 132 countries worldwide. It aims to develop and apply a methodology for assessing the national biodiversity finance gap, improve cost-effectiveness by mainstreaming biodiversity into national development and sectoral planning, and create comprehensive national finance plans.

In Georgia, BIOFIN was launched in 2016. At the national level, the initiative supports the implementation of the National Biodiversity Strategy and Action Plan (NBSAP) by assessing biodiversity-related expenditures and financial needs for its delivery, and by developing and implementing a resource mobilisation strategy.

One of the four new finance solutions identified under the BIOFIN Phase 2 extension is redirecting efforts towards conservation through the 'Forest Friend' – a platform that promotes reforestation and forest conservation activities by engaging the private sector and the public.

 

In 2022-2023, the National Forestry Agency (NFA), with the support from BIOFIN Georgia, launched a web-based platform ‘Forest Friend’ - a communication tool that facilitates voluntary targeted donations (individual and/or through corporate social responsibility) and organizes related activities. The platform marks an initial step towards implementing a carbon offsetting mechanism in Georgia, offering a mutually beneficial framework for cooperation between national authorities and private companies.

The overall objective of the assignment is to assess the feasibility of carbon offsetting mechanisms linked to reforestation activities in Georgia and encourage private sector involvement in sustainable forest management through volunteer activities and carbon offsetting tools.

 

Remissia’s scope of work:

1. An in-depth analysis of the current regulatory framework, international best practices, and enabling environment for carbon offsetting through reforestation activities, including an overview of existing gaps and recommended priority actions.

2. Develop templates and guidelines for designing and implementing carbon offsetting projects.

3. Assist NFA in developing a reforestation carbon offsetting project for the ‘Forest Friend’ platform.