The Global Biodiversity Framework Fund (GBFF) serves as a financial mechanism designed to support the implementation of the Kunming-Montreal Global Biodiversity Framework (GBF). This framework was established by the Convention on Biological Diversity (CBD) and aims to mobilize resources essential for achieving biodiversity conservation and restoration objectives by the year 2030.
The GBFF was officially ratified and launched during the Seventh Assembly of the Global Environment Facility (GEF), which took place in Vancouver, Canada.
Funding for the GBFF can come from various sources, including governments, non-profit organizations, and the private sector. These contributions are aimed at supporting initiatives that align with the objectives and targets of the Kunming-Montreal Global Biodiversity Framework.
The Kunming-Montreal Global Biodiversity Framework strives to halt and reverse biodiversity loss by 2030, with the ultimate goal of setting nature on a recovery path by 2050. It outlines critical targets and actions necessary for biodiversity conservation and sustainable use.
Notable contributions to the GBFF have been made by Canada and the United Kingdom, with donations amounting to 200 million Canadian dollars and 10 million pounds, respectively.
The funds collected for the GBFF will be allocated to initiatives focused on protecting and conserving biodiversity. Importantly, 20% of these funds will specifically support Indigenous-led initiatives. Additionally, a significant portion will be directed towards Small Island Developing States and Least Developed Countries, ensuring that over a third of the fund’s resources benefit them.
The initial donations align with a GEF Council Decision mandating that the GBFF should receive $200 million from at least three donors by December 2023. These contributions are crucial for operationalizing the fund and facilitating biodiversity-related projects.
Future contributions to the GBFF are anticipated based on the fiscal processes of major donors. The inaugural GBFF Council meeting is set for January 2024, where the first work program is expected to be approved by June 2024. The initial disbursement of funds is anticipated after this meeting, aiming to launch projects before the CBD’s CoP16.
The establishment and funding of the GBFF signify a significant advancement toward global biodiversity conservation goals. The contributions and initiatives supported by the fund aspire to foster a more biodiverse planet, benefiting all living organisms.
The Global Biodiversity Framework Fund (GBFF) is an essential financial mechanism aimed at facilitating the implementation of the Kunming-Montreal Global Biodiversity Framework. Through contributions from various sectors, the fund seeks to combat biodiversity loss and enhance conservation efforts on a global scale.
Q1. What is the main goal of the GBFF?
Answer: The main goal of the Global Biodiversity Framework Fund is to support the implementation of the Kunming-Montreal Global Biodiversity Framework, aiming to halt and reverse biodiversity loss by 2030.
Q2. Who contributes to the GBFF?
Answer: Contributions to the GBFF can be made by governments, non-profit organizations, and private sector entities, all aiming to support biodiversity initiatives.
Q3. What portion of GBFF funds supports Indigenous initiatives?
Answer: 20% of the contributions to the GBFF are specifically allocated to support Indigenous-led biodiversity initiatives.
Q4. When was the GBFF launched?
Answer: The GBFF was launched at the Seventh Assembly of the Global Environment Facility held in Vancouver, Canada.
Q5. What does the future look like for the GBFF?
Answer: The future outlook for the GBFF includes additional funding expected in 2024, with plans for project launches following the inaugural council meeting.
Question 1: What is the primary purpose of the Global Biodiversity Framework Fund?
A) To promote tourism
B) To support biodiversity conservation initiatives
C) To fund agricultural projects
D) To reduce carbon emissions
Correct Answer: B
Question 2: Which countries have made significant contributions to the GBFF?
A) Australia and Germany
B) Canada and the United Kingdom
C) India and Japan
D) Brazil and France
Correct Answer: B
Question 3: When was the GBFF ratified?
A) 2021
B) 2022
C) 2023
D) 2020
Correct Answer: C
Question 4: What percentage of GBFF funds is allocated to Indigenous-led initiatives?
A) 10%
B) 15%
C) 20%
D) 25%
Correct Answer: C
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