Published on: September 2, 2023
Global Biodiversity Framework Fund
Why in news? The Global Biodiversity Framework Fund (GBFF) was finally ratified and launched at the Seventh Assembly of the Global Environment Facility (GEF) in Vancouver, Canada.
About Kunming-Montreal Global Biodiversity Framework (GBF)
- It is an outcome of the 2022 United Nations Biodiversity Conference
- The GBF was adopted by COP15 to the Convention on Biological Diversity on December 2022
- This framework succeeds the Strategic Plan for Biodiversity 2011-2020 (including the Aichi Biodiversity Targets)
- It has been promoted as a “Paris Agreement for Nature” and is not a legally binding treaty
- The GBF contains global goals as
- Kunming-Montreal Global Goals for 2050
- 23 targets (“Kunming-Montreal 2030 Global Targets”)
- “Target 3” is especially referred to as the “30 by 30” target.