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Global Biodiversity Framework Fund : 7th GEF Assembly

The Seventh Assembly of the Global Environment Facility (GEF) to commence in Vancouver, Canada from August 22, 2023.....


  • The Seventh Assembly of the Global Environment Facility (GEF) to commence in Vancouver, Canada from August 22, 2023.
  • Focus on ratifying the Global Biodiversity Framework Fund (GBFF) to ensure financial support for species and ecosystem conservation.

What is Global Environment Facility?

The GEF is a multilateral financial organization that provides grants and concessional loans to developing countries for projects that protect the global environment.

  • The GEF was set up in 1991. It has its headquarters in Washington, D.C.
  • The GEF is funded by contributions from 183 member countries.
  • The GEF’s work is guided by six focal areas:
  • The GEF has funded over 4,000 projects in 170 countries, with a total value of over $22 billion.
  • The GEF’s work has helped to reduce greenhouse gas emissions, protect biodiversity, improve water quality, and reduce pollution.

What is Global Biodiversity Framework Fund?

Kunming-Montreal Global Biodiversity Framework

  • The framework has 23 targets that the world needs to achieve by 2030.
  • The targets are ambitious, considering that biodiversity is in a poor state.
    • In 2020, the world failed to meet the last set of targets, the Aichi Targets. 
      • Countries would need to ensure success this time around. 
  • Delegates were able to build consensus around the deal’s most ambitious target of protecting 30% of the world’s land and seas by the decade’s end, a goal known as 30-by-30.
  • The deal also directs countries to allocate $200 billion per year for biodiversity initiatives from both the public and private sectors.
  • The Global Environment Facility has been requested to establish a Special Trust Fund to support the implementation of the Global Biodiversity Framework (“GBF Fund”). 

Allocation of Funds: Targeted Environmental Areas

  • Biodiversity to receive 47% of funds, climate change 16%, land degradation 12%.
  • International waters and chemical waste to secure 11% and 6% respectively.
  • Funds designated for global projects addressing environmental concerns.
  • Proposal for direct financing access, with a goal of securing 20% of funding.
  • Currently, less than 1% of climate and biodiversity funding reaches IPLCs, despite managing significant global land.

Environmental Challenges

  • Convened after a five-year hiatus due to COVID-19 disruptions; typically occurs every four years.
  • The gathering’s significance in light of Sustainable Development Goal target achievement by 2030 and the Kunming-Montreal Global Biodiversity Framework’s end-date.
  • Human activities, notably fossil fuel combustion, are mostly to blame, as they increase heat-trapping greenhouse gas levels in the Earth’s atmosphere, elevating the average surface temperature. This is called global warming.
  • Climate Change encompasses both human intervention and natural change in climate over longer periods. Global warming focuses primarily on rising temperatures as a result of human activities.
  • Natural causes of climate change are- the intensity of the sun, volcanic eruptions, and changes in naturally existing greenhouse gas concentrations
  • Anthropogenic causes are- burning of fossil fuels, livestock production, industrial development etc.
  • At the 2015 Paris Climate Change Conference, almost all countries resolved to shift away from fossil fuels to cleaner and efficient alternatives.

Crucial Momentum to Achieving Global Goals

  • Upcoming Vancouver Assembly holds substantial importance for achieving global objectives.
  • The only anticipated Assembly before the 2030 deadline for Sustainable Development Goals and the Global Biodiversity Framework.
  • Momentum generated during the event critical for goal realization.

7th GEF Assembly, 7th GEF Assembly

Read Also: Bhutan’s Remarkable Journey: A Net Zero Carbon Emission Country

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