Securing lasting biodiversity gains depends on whether projects remain financially viable beyond GEF support.

Prepared as part of the GEF M&E work program in 2002, this study examines how biodiversity projects can achieve financial self-sufficiency, a concern raised in earlier evaluations.

The analysis shows that business enterprises—most often ecotourism ventures—are the most common financial arrangements, but these were often designed late in the project cycle and used more to address local threats than to secure long-term revenue for conservation. Financial investments and property-based mechanisms were applied far less frequently, and few projects developed thorough feasibility assessments or business plans.

While some recent projects demonstrate greater innovation and promise, the study concludes that earlier and more systematic planning, stronger integration with national and local contexts, and greater diversification of financing are essential for biodiversity initiatives to remain viable over time.