Establishment of a global fund to protect 30% of lands and oceans

Shafaq News / 185 countries have agreed to establish a global fund to protect 30% of lands and oceans by 2030 in an effort to mitigate the effects of climate change.

According to the "Al Ain" news agency, the fund will focus on developing countries where the impacts of nature loss are most severe. It will also prioritize gender equality and collaboration with indigenous peoples.

This initiative is a crucial component of the post-2020 Global Biodiversity Framework, which sets goals for biodiversity protection.

During the seventh session of the Global Environment Facility in Vancouver, Canada, representatives from 185 countries agreed to launch a new global fund for environmental conservation. Canada pledged $200 million CAD, and the UK committed £10 million as contributions to the fund.

The United Nations aims to secure contributions to protect 30% of terrestrial and coastal areas by 2030.

The Global Environment Facility Fund's statement noted that the new Global Biodiversity Finance Facility (GBFF) is designed to mobilize and accelerate investment in the preservation and sustainability of wild species and ecosystems threatened by wildfires, floods, extreme weather, and human activity, including urban sprawl.

The GBFF seeks cash support from governments, charities, and the private sector. The seventh session of the Global Environment Facility was attended by 1,500 individuals, including government representatives, academics, business leaders, indigenous peoples, and environmental advocates. The meeting, held every four years, coincided with an active hurricane season and a record wildfire season in Canada, both influenced by global warming and rising ocean temperatures.

Carlos Manuel Rodriguez, CEO of the Global Environment Facility, stated in a press release, "The nations have gathered in Vancouver to change things for the well-being of the planet and its inhabitants. This is an extremely positive moment that will be remembered in the distant future. Even under difficult conditions, with wildfire smoke as a backdrop, we have shown that we can move forward to build a more biologically diverse planet for the benefit of all."

It is noteworthy that the GBFF was established to fund the implementation of the Kunming-Montreal Framework on Biodiversity, which was adopted in December 2022 to address interrelated biodiversity crises and extinctions.

Canadian Minister for International Development Ahmed Hussen stated in a press release, "Biodiversity is a critical foundation for our well-being and the health of our planet. The new GBFF will play a key role in addressing biodiversity loss, tackling this issue in developing countries where the impacts of nature loss are most severe. Canada is making a significant contribution to this new fund and continues to demonstrate our support for the eighth replenishment of the Global Environment Facility to ensure the protection of biodiversity for future generations."

Contributions to the GBFF will be directed toward halting and reversing global biodiversity loss by 2030, as well as putting nature on a path to recovery by 2050.

The press release of the Global Environment Facility stated, "As we confront the critical challenge of halting and reversing global biodiversity loss, working together has never been more important."

UK Environment Secretary Trudy Harrison said, "Our initial contribution to the GBFF demonstrates the UK's ongoing commitment to safeguarding our planet's natural diversity. Through vital international cooperation, we are paving the way for a more sustainable future for our planet."

Additionally, up to 20% of the GBFF's resources will be allocated to support initiatives led by indigenous peoples, protect biodiversity, and preserve it. More than one-third of its resources will go to support low- and middle-income countries and small island developing states.

Lucy Mulenkei, Co-Chair of the International Indigenous Peoples Forum on Biodiversity, stated, "The establishment of this fund and its commitment to support indigenous peoples and local communities is an important and clear recognition of the fundamental role they have played for generations in protecting biodiversity. In her words, "We will not achieve the shared vision of a healthy planet and healthy people unless we come together through collective action and a human rights-based approach."