Innovation Challenge on Biodiversity Finance Integration in Higher Education (Costa Rica)

Deadline: 06-Jul-2026

The United Nations Development Programme (UNDP) is inviting applications for an Innovation Challenge designed to strengthen higher education systems through the integration of Nature-related Financial Disclosures (TNFD) into academic and professional training programmes. The initiative seeks innovative educational solutions that equip students and professionals with the knowledge and skills needed to address nature-related risks, sustainability reporting, and environmental accountability.

The challenge supports higher education institutions in developing scalable, inclusive, and financially sustainable models that advance sustainability education while contributing to the Sustainable Development Goals (SDGs).

About the Innovation Challenge

The Innovation Challenge aims to promote the adoption of nature-related financial disclosure frameworks within higher education and professional development programmes. By integrating TNFD concepts into business and related disciplines, the initiative seeks to prepare future professionals to better understand the relationship between nature, finance, business performance, and sustainable development.

The challenge encourages institutions to develop innovative learning approaches that can be replicated and scaled across different educational settings and geographic contexts.

What is the TNFD Framework?

The Taskforce on Nature-related Financial Disclosures (TNFD) framework is a global initiative that helps organizations identify, assess, manage, and disclose nature-related risks, dependencies, impacts, and opportunities.

The framework supports:

• Better environmental risk management
• Improved sustainability reporting
• Informed business decision-making
• Greater transparency for investors and stakeholders
• Alignment between business activities and nature conservation goals

The Innovation Challenge seeks to expand awareness and understanding of TNFD principles through higher education and professional training.

Challenge Objectives

The programme aims to:

• Integrate TNFD concepts into higher education curricula
• Strengthen sustainability and environmental education
• Develop innovative academic and professional training models
• Support workforce readiness in sustainability-related fields
• Promote nature-related financial literacy
• Encourage scalable and transferable educational solutions
• Advance social, environmental, and financial sustainability
• Contribute to the Sustainable Development Goals (SDGs)

The challenge emphasizes solutions that can create long-term educational impact while remaining practical and inclusive.

Priority Areas

Proposals are expected to focus on one or more of the following areas:

• Integration of TNFD into business administration programmes
• Inclusion of nature-related financial disclosure concepts in relevant academic disciplines
• Development of professional certification programmes
• Creation of training programmes for graduates and working professionals
• Design of innovative educational tools and methodologies
• Development of proof-of-concept models
• Feasibility studies for curriculum implementation
• Scalable educational solutions that can be replicated in other contexts

Projects should demonstrate both innovation and practical application.

Funding Available

Selected proposals may receive funding ranging from:

• US$25,000 to US$30,000

Funding will be awarded to projects that demonstrate:

• Innovation
• Scalability
• Sustainability
• Educational impact
• Alignment with development priorities

The proposed budget should be realistic, well-justified, and directly linked to project implementation and outcomes.

Eligible Applicants

The challenge is open to higher education institutions capable of delivering the proposed activities within the required project period.

Applicants must demonstrate:

• Institutional capacity to implement the project
• Adequate human resources
• Appropriate technical expertise
• Financial and administrative capability
• Commitment to sustainability and long-term impact
• Ability to replicate or scale successful solutions

Institutions should have the necessary infrastructure and experience to manage educational innovation projects effectively.

Eligible Project Costs

Funding may be used for expenses directly related to project implementation.

Eligible costs include:

• Project staffing and personnel costs
• Technical consultancy services
• Professional consultancy support
• Technology development services
• Educational content development
• Training and workshop activities
• Small equipment and supplies
• Project implementation travel costs
• Other justified implementation expenses

All expenditures must be directly linked to project objectives and outcomes.

Ineligible Costs

The programme does not support certain categories of expenditure.

Ineligible costs include:

• Capital expenditure
• Debt repayment obligations
• Loan servicing costs
• Financial penalties and fines
• Unrelated marketing expenses
• Distribution costs not linked to project delivery
• Costs not directly connected to project outcomes

Applicants should carefully ensure that proposed budgets comply with funding guidelines.

Eligibility Requirements

To be considered for funding, proposals must:

• Demonstrate social impact
• Demonstrate environmental impact
• Demonstrate educational value
• Support Sustainable Development Goals (SDGs)
• Promote inclusivity and accessibility
• Show potential for scalability
• Show potential for replication in broader contexts
• Present a sustainable implementation model
• Comply with all programme requirements

Strong proposals will clearly explain how the solution can create lasting benefits beyond the project period.

Restricted Activities

Projects involving the following activities are not eligible for support:

• Tobacco-related activities
• Alcohol-related activities
• Drug-related activities
• Firearms and weapons-related activities
• Activities involving harmful substances
• Projects that conflict with programme objectives or ethical standards

Applicants must ensure full compliance with these restrictions.

Intellectual Property and Project Implementation

The challenge includes provisions that support innovation while protecting the interests of applicants.

Key implementation considerations include:

• Intellectual property rights remain with the applicants
• Projects must be implemented within the approved timeframe
• Budgets must be properly justified and documented
• Activities must comply with programme rules and reporting requirements
• Solutions should demonstrate long-term sustainability potential

Institutions should be prepared to manage project delivery and reporting effectively.

Why This Challenge Matters

Nature-related risks are becoming increasingly important within business, finance, and sustainability discussions. Educational institutions play a critical role in preparing future professionals to understand and address these challenges.

The Innovation Challenge helps:

• Modernize higher education curricula
• Strengthen sustainability competencies
• Promote responsible business practices
• Improve environmental literacy
• Support green skills development
• Advance nature-positive economic approaches
• Prepare graduates for emerging sustainability careers

By integrating TNFD principles into education, the initiative contributes to stronger links between academia, business, and sustainable development.

Frequently Asked Questions

• What is the purpose of the UNDP Innovation Challenge?
  The challenge supports higher education institutions in integrating nature-related financial disclosure frameworks into academic and professional training programmes.
• How much funding is available?
  Selected projects may receive between US$25,000 and US$30,000.
• Who can apply?
  Eligible higher education institutions with the capacity to implement and sustain the proposed project.
• What is the TNFD framework?
  The Taskforce on Nature-related Financial Disclosures (TNFD) framework helps organizations identify, assess, manage, and disclose nature-related risks and opportunities.
• What types of activities can be funded?
  Curriculum development, training programmes, certification initiatives, feasibility studies, workshops, consultancy services, and educational innovation projects.
• Can funding be used for capital investments?
  No. Capital expenditure and certain other costs are not eligible for support.
• Do applicants retain intellectual property rights?
  Yes. Intellectual property generated through the project remains with the applicants.

Conclusion

The UNDP Innovation Challenge for Nature-Related Financial Disclosure Education offers higher education institutions an opportunity to develop innovative and scalable learning solutions that integrate TNFD principles into academic and professional training. With funding of up to US$30,000, the initiative supports curriculum innovation, sustainability education, and workforce development while advancing environmental responsibility, financial sustainability, and the Sustainable Development Goals. By strengthening education around nature-related financial disclosures, the challenge helps prepare future leaders to address emerging sustainability and business challenges.

For more information, visit UNDP.