COP 15 and the Global Biodiversity Framework
The 15th Conference of Parties (COP 15) to the United Nations Convention on Biological Diversity was held in Montreal, Canada. The conference resulted in the creation of the Global Biodiversity Framework (GBF), which aims to restore 30% of degraded ecosystems and halt further loss of biodiversity hotspots by 2030. The GBF also aims to mobilize a minimum of $200 billion per year from all sources by 2030 to support these efforts.
Challenges to Implementation:
The GBF's goals are ambitious, considering that currently only a small percentage of terrestrial and marine areas are protected. There is also the challenge of organizing the flow of funds, as previous efforts to organize the flow of $100 billion per year for the climate mitigation fund have not been successful.
Key Components of the GBF
The GBF includes 23 targets, many of which are quantifiable, to track progress.
These targets include: reducing subsidies to industries that harm biodiversity by $500 billion per year, halving the use of pesticides and hazardous chemicals, reducing global food waste by 50%, and cutting overconsumption and waste generation. The GBF also calls for businesses and private investors to disclose their actions related to nature.
Importance of the GBF
The state of the planet's biodiversity is dire, with 34,000 plant and 5,200 animal species, including one-eighth of bird species, facing the threat of extinction. Habitat destruction, over-exploitation, pollution, and climate change are among the main drivers of this decline.
India's Role in the GBF
India was successful in ensuring that the goals and targets of the GBF are globally applicable, with countries able to adopt them according to their circumstances and priorities. India also helped to keep references to agricultural and fisheries subsidies out of the GBF. The GBF includes provisions for sharing monetary and non-monetary benefits from the use of genetic resources with indigenous people and protecting traditional knowledge associated with genetic resources.
While the GBF is a promising agreement, it will require strong political will to make progress in improving the planet's biodiversity. Without action, the earth's natural balance will become dangerously skewed, leading to an ecological crisis.
Written by princy