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.

Highlights:

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.