The Global Environmental Facility has approved a new trust fund to support global biodiversity conservation at the GEF Seventh Assembly meeting, on the 24th August 2023, in Vancouver, Canada.
The 2023 GEF assembly brought together representatives from 185 countries around the world, with over 1,500 people including, environmental leaders, and managers, government officials, business leaders, academic professionals, indigenous peoples, women and youths attended the conference.
The ratification of the new trust funds in Vancouver is inline with the Kunming-Montreal agreement which was adopted at the Fifteenth Conference of the Parties (COP 15) to the convention on Biological Diversity in Montreal, Canada in December last year. The urgent need for international global biodiversity financing was a major part of the Kunmings-Montreal conference in order to meet the ambitious goals set out to implement broad-based action to bring about sustainable transformation in our societies’ relations with global biodiversity by 2030, and to live in harmony with nature by 2050.
The 2023 GEF’s gathering came at time when the host nation, Canada is currently battling with a record wildfire season in British Colombia and the start of what is expected to be a record hurricane season in North America, caused by record Pacific and Atlantic Ocean temperatures.
CEO and Chairperson of the Global Environmental Facility Carlos Manuel Rodriguez emphasized the importance of the this year’s event and further highlighted that the gathered in Vancouver is to turn things around for the health of the planet, and it’s people. He continued to state that it is a moment that can be remembered in the future, that the world is ready to build a biodiverse world for everyone’s benefit.
“Countries have come together in Vancouver to turn things around for the health of the planet and its people. This is a hugely positive moment that will be remembered far into the future. We have shown at the Seventh GEF Assembly that even in difficult conditions – with wildfire smoke as our backdrop – we can move forward to build a more biodiverse planet for everyone’s benefit,” said Carlos Manuel Rodríguez, CEO and Chairperson of the Global Environment Facility.
Outstanding contributions were made towards halting and reversing biodiversity loss by 2030, and to put nature on a recovery trajectory by 2050.
“I would like to express my great appreciation for the prompt actions taken by the GEF Secretariat, by the Council, and now the Assembly, to respond to the request from the Conference of the Parties to establish the new GBF Fund under the GEF.
Further, it is encouraging to see the contributions already announced by Canada and the UK as well as the statements by a number of countries that further pledges will be forthcoming shortly,”
Now, the launch of the GBF Fund provides additional impetus in moving from agreement to action, to take the steps towards putting biodiversity on a path to recovery by 2030,” David Cooper Executive Secretary of the Convention on Biological Diversity on the Launch of the Global Biodiversity Framework Fund in Vancouver, Canada 2023.
Canada and the the United Kingdom were highly commended for their contribution to the GBF Fund. A 200 Million Dollars contribution was announced by Canada and a 10 Million British Pound donation was announced by the UK government in support of the new trust fund.
AVAAZ a global movement of nearly 70 Million members warns that the first commitment to the Global Biodiversity Framework Fund is not enough to to operationalize the funds as it still needed about 40 Million US Dollars by the end of 2023. AVAAZ also called the on the US government and Japanese authorities to put money on the table urgently for a timely intervention.
“Avaaz commends Canada’s 200 million CAD and the UK’s 10 million GBP commitments, but also points out that 40 million USD is still needed to operationalize the fund by the end of 2023. Avaaz also urges governments that have taken the floor today to announce they would support this effort, including Japan and the US, to “put money on the table”, and as urgently as they mentioned in their interventions,” Oscar Soria, Campaign Director, AVAAZ stated.
The new new funds will mobilize and disburse new and Additional resources from public, private, and philanthropic sources, with focus on the sustainability of biodiversity and ecosystems.
“Biodiversity is the critical foundation of our well-being and the health of our planet. The new Global Biodiversity Framework Fund will play a key role in addressing biodiversity loss. It will address it in developing countries, where the impacts of nature loss are highest; it will address it in a gender-responsive manner, including through cross-sectoral partnerships; it will address it in collaboration with Indigenous Peoples, the original guardians of the lands and seas. Canada is making a significant contribution to this new fund and continuing to show our support for the GEF’s eighth replenishment to ensure the protection of our planet’s biodiversity for generations to come,” said Ahmed Hussen, Canada’s Minister of International Development.
“We are at a pivotal time of unprecedented environmental challenges as the world is being confronted by the triple crises of climate change, pollution, and biodiversity loss. The urgency of a global response has never been greater. Over the last eight months, since COP15, we have seen outstanding collaboration between countries and international partners, and we need to keep the momentum going. Canada’s longstanding partnership with the GEF is central to our efforts and underscores our shared commitment to collaboration and climate action,” said Steven Guilbeault, Canada’s Minister of Environment and Climate Change.
The funds will support and prioritize Small Island Developing States and Least Developed Countries, these countries will receive more than a third of the funding resources. Additionally 20 percent of support will go to indigenous-led initiatives to protect and conserve biodiversity.
“The creation of this fund and its commitment to supporting Indigenous Peoples and local communities is an important and clear recognition of the fundamental role they have had for generations protecting biodiversity. We will only achieve the shared vision of a healthy planet and healthy people with collective, inclusive actions, and a human rights approach where we all hold hands together,” said Lucy Mulenkei, Co-Chair of the International Indigenous Forum on Biodiversity.
About the Global Environment Facility
The GEF is a family of funds dedicated to confronting biodiversity loss, climate change, pollution, and strains on land and ocean health. Its grants, blended financing, and policy support helps developing countries address their biggest environmental priorities and adhere to international environmental conventions. Over the past three decades, the GEF has provided more than $23 billion and mobilized $129 billion in co-financing for more than 5,000 national and regional projects.
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