Public Financial Management

Public financial management is focused on how the public sector prioritizes, plans, and executes its national finances. It includes efforts to mainstream sustainable development (including conservation) into national and local government planning and budgeting processes as well as effective disbursement, different forms of fiscal transfers, reforming harmful subsidies, and earmarking revenues for nature. Assuring adequate allocations to conservation in national budgets can be challenging given competing demands on these budgets. Often, data driven approaches such as performance-based budgeting, identification of key performance indicators, and responding to strategic economic priorities (jobs, hard currency, etc.) can assist government agencies and partners to convince decision makers of the importance of investing in nature. National government budgetary allocations are the largest stable source of finance for nature globally and in most countries.