Globally, we are in the midst of an unprecedented environmental crisis, in particular ofbiodiversity loss and ecosystem degradation (the biodiversity crisis) and the compoundingclimate change crisis. Under the UN Convention on Biological Diversity, the globalcommunity failed to meet any of the conservation targets set for 2020 (the AichiBiodiversity Targets) to halt and reverse the biodiversity crisis. A new set of targets for thecoming decade is currently being negotiated. The reasons for the original failure are many,but one key cause is the lack of funding for implementation, despite explicit agreementunder Aichi Target 20 to mobilise such funding. In part, this is because conservation financeis still viewed as a cost to society, as a luxury we can ill afford given other pressing socioeconomicneeds. However, a wealth of evidence now informs us that, when measuredappropriately, such financing is not a cost but an investment in the ecosystem services onwhich all of humanity depends. Increasingly, traditional financial investment mechanismsare being applied to support conservation activities and are showing measurable benefits.As this evidence mounts, understanding of conservation finance as an investment isgathering momentum and offering new opportunities for innovative economic investmentapproaches. Building on the success of debt-for-nature swaps and other ‘green’ financialinstruments, this paper outlines the rationale and investment opportunities for the financialunderpinning of Africa’s post-2020 biodiversity priorities. It also proposes a greater role forAfrican leadership in driving this agenda.