Global Biodiversity Framework Fund

ABOUT THE GLOBAL ENVIRONMENT FACILITY

The GEF is a family of funds dedicated to confronting biodiversity loss, climate change, pollution, and strains on land and ocean health. Its grants, blended financing, and policy support helps developing countries address their biggest environmental priorities and adhere to international environmental conventions. Over the past three decades, the GEF has provided more than $23 billion and mobilized $129 billion in co-financing for more than 5,000 national and regional projects.

KUNMING-MONTREAL GLOBAL BIODIVERSITY FRAMEWORK

The Kunming-Montreal Global Biodiversity Framework (GBF) was adopted during the fifteenth meeting of the Conference of the Parties (COP 15) following a four-year consultation and negotiation process. This historic Framework, which supports the achievement of the Sustainable Development Goals and builds on the Convention’s previous Strategic Plans, sets out an ambitious pathway to reach the global vision of a world living in harmony with nature by 2050. Among the Framework’s key elements are 4 goals for 2050 and 23 targets for 2030.

The implementation of the Kunming-Montreal Global Biodiversity Framework will be guided and supported through a comprehensive package of decisions also adopted at COP 15. This package includes a monitoring framework for the GBF,  an enhanced mechanism for planning, monitoring, reporting and reviewing implementation, the necessary financial resources for implementation, strategic frameworks for capacity development and technical and scientific cooperation, as well as an agreement on digital sequence information on genetic resources.

In adopting the Kunming-Montreal Global Biodiversity Framework, all Parties committed to setting national targets to implement it, while all other actors have been invited to develop and communicate their own commitments. At the next meeting of the Conference of the Parties, the world will take stock of the targets and commitments that have been set.

PRACTICE QUESTION

Q. Consider the following statements with reference to Global Biodiversity Framework Fund.

1.    The Global Biodiversity Framework Fund (GBFF) has been designed to mobilize and accelerate investment in the conservation and sustainability of wild species and ecosystems, whose health is under threat from wildfires, flooding, extreme weather, and human activity including urban sprawl.

2.    The GBF Fund is uniquely dedicated to support the implementation of the Kunming-Montreal Global Biodiversity Framework, its goals, and its targets.

3.    The fund provides the opportunity for a greatly enhanced involvement of Multilateral Development Banks and Development Finance Institutes, which will facilitate the mainstreaming of biodiversity necessary to implement the Framework.

How many of the above are correct?

A) Only 1

B) Only 2

C) All 3

D) None

Answer: C) All 3