The Global Biodiversity Framework Fund (GBFF) has been ratified and launched at the Global Environment Facility Assembly in Canada. Governments, nonprofits, and the private sector can contribute to this fund, aimed at achieving the Kunming-Montreal Global Biodiversity Framework’s objectives by 2030. Canada and the UK have already donated significant amounts. The fund prioritizes Indigenous-led initiatives, Small Island Developing States, and Least Developed Countries, with 20% allocated for Indigenous conservation efforts. The fund aligns with the Convention on Biological Diversity’s goals and targets, aiming to halt biodiversity loss by 2030 and nurture nature’s recovery by 2050.
Facts/Terms for UPSC Prelims
- Global Biodiversity Framework Fund (GBFF): Established to support the Kunming-Montreal Global Biodiversity Framework’s objectives, aiming to reverse biodiversity loss by 2030 and restore nature by 2050.
- Kunming-Montreal Global Biodiversity Framework (GBF): A set of goals and targets formulated by the Convention on Biological Diversity (CBD) to address biodiversity loss worldwide.
- Convention on Biological Diversity (CBD): An international treaty aiming to conserve biodiversity, sustainably use its components, and ensure equitable sharing of benefits from genetic resources.
- Global Environment Facility (GEF): An international financial mechanism that provides funds for projects that address global environmental issues, supporting initiatives related to biodiversity, climate change, and more.
- Indigenous-led Initiatives: Projects and efforts directed by Indigenous communities to conserve and protect biodiversity, recognizing their role as stewards of the environment.