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At the COP16 biodiversity summit in Colombia, eight governments announced on Monday that they would commit $163 million to strengthen a fund set up to “stop and reverse” nature loss by 2030. Announced.
Austria, Denmark, France, Germany, New Zealand, Norway, the United Kingdom and the Canadian province of Quebec announced contributions to the Global Biodiversity Framework Fund (GBFF), according to a statement from the Global Environment Facility (GEF).
The new commitment brings the total amount previously pledged to the fund to about $400 million.
GBFF was founded on the agreement reached in 2022 that gave birth to the Kunming-Montreal Global Biodiversity Framework, which set out 23 goals to save nature from human destruction.
“GBFF currently has 12 contributors, including from Canada, Japan, Luxembourg and Spain,” it said in a statement. Quebec is the first provincial government to make a donation.
Under the framework, countries commit to mobilizing at least $200 billion a year for biodiversity by 2030, including an annual increase of $200 billion from rich countries by 2025 to support developing countries. It includes $20 billion. GBFF is part of this funding.
According to the OECD Group of Developed Countries, $15 billion of the $20 billion target has been achieved by 2022.
COP16 President and Colombian Environment Minister Susana Muhamad told AFP on Monday that the GBFF “needs more funding”.
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