Global Biodiversity Framework Fund: New Fund Launched to Deliver on Biodiversity COP15 Goals

Global Biodiversity Framework Fund: New Fund Launched to ...  Environment

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Aug 26, 2023 - 06:00
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Global Biodiversity Framework Fund: New Fund Launched to Deliver on Biodiversity COP15 Goals

EU Welcomes the Establishment of the Global Biodiversity Framework Fund

Yesterday, the Seventh Global Environment Facility (GEF) Assembly in Vancouver, Canada, established a Global Biodiversity Framework Fund (GBF-Fund), a special trust fund under the GEF, to support the implementation of the Kunming-Montreal Global Biodiversity Framework agreed at COP15 last year. The EU welcomes the creation of this fund, which is a crucial stepping stone towards the implementation of the Kunming-Montreal Global Biodiversity Framework to put nature on a path to recovery by the end of this decade. The fund launched yesterday will complement existing support and help scaling up financing from all sources to ensure the timely implementation and monitoring of the Framework. It will take into account the need for adequacy, predictability, and timely flow of funds.

At COP15, the parties acknowledged that it is essential to mobilise substantial financial resources to protect nature and the planet. As part of the agreement, the GEF was requested to establish the Global Biodiversity Framework Fund, a special trust fund to support the implementation of the Agreement.

Commissioner for Environment, Oceans and Fisheries, Virginijus Sinkevičius, said:

At COP15, we achieved a historic agreement to address biodiversity loss and restore our natural ecosystems. Now, our current goal is the full implementation of the Kunming-Montreal Global Biodiversity Framework, with the launch of the Global Biodiversity Framework Fund marking a crucial step forward.

Background

The EU Biodiversity Strategy, as part of the European Green Deal, highlights the need for increased international support and finance flows. The EU has committed EUR 7 billion of external funding to biodiversity until 2027. This will translate in programmes covering the whole spectrum of the Global Biodiversity Framework, including with attention to indigenous peoples and local communities, and ensuring gender equality.

SDGs, Targets, and Indicators in the Article

1. Which SDGs are addressed or connected to the issues highlighted in the article?

  • SDG 14: Life Below Water – The article mentions the Commissioner for Environment, Oceans, and Fisheries, highlighting the importance of addressing biodiversity loss and restoring natural ecosystems.
  • SDG 15: Life on Land – The article discusses the Global Biodiversity Framework Fund and the need to protect nature and the planet.

2. What specific targets under those SDGs can be identified based on the article’s content?

  • SDG 14.2: By 2020, sustainably manage and protect marine and coastal ecosystems to avoid significant adverse impacts, including by strengthening their resilience and take action for their restoration, to achieve healthy and productive oceans.
  • SDG 15.5: Take urgent and significant action to reduce the degradation of natural habitats, halt the loss of biodiversity, and protect and prevent the extinction of threatened species.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

The article does not explicitly mention any indicators. However, some potential indicators that can be used to measure progress towards the identified targets include:

  • Extent of protected marine and coastal ecosystems
  • Resilience of marine and coastal ecosystems
  • Extent of restoration actions taken for marine and coastal ecosystems
  • Extent of reduction in the degradation of natural habitats
  • Extent of biodiversity loss halted
  • Extent of protection and prevention of threatened species

Table: SDGs, Targets, and Indicators

SDGs Targets Indicators
SDG 14: Life Below Water 14.2: By 2020, sustainably manage and protect marine and coastal ecosystems to avoid significant adverse impacts, including by strengthening their resilience and take action for their restoration, to achieve healthy and productive oceans.
  • Extent of protected marine and coastal ecosystems
  • Resilience of marine and coastal ecosystems
  • Extent of restoration actions taken for marine and coastal ecosystems
SDG 15: Life on Land 15.5: Take urgent and significant action to reduce the degradation of natural habitats, halt the loss of biodiversity, and protect and prevent the extinction of threatened species.
  • Extent of reduction in the degradation of natural habitats
  • Extent of biodiversity loss halted
  • Extent of protection and prevention of threatened species

Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.

Source: environment.ec.europa.eu

 

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