Daily Current Affairs : 27-June-2023
The Global Environment Facility (GEF) is facing a crucial question concerning its funding to achieve the goals and targets of the Kunming-Montreal Global Biodiversity Framework (GBF). This essay explores the framework’s significance, the need for its implementation, and the key outcomes that have been agreed upon. The funding challenges and the potential impact on global biodiversity conservation efforts will be discussed.
Understanding the Kunming-Montreal Global Biodiversity Framework
The Kunming-Montreal Global Biodiversity Framework was established during the UN Biodiversity conference COP15 in Montreal, Canada. Its purpose is to protect and restore nature for present and future generations, promote sustainable use, and stimulate investments for a green global economy.
A. Need for the Framework
- Economic Dependency on Ecosystem Services: Over half of the global GDP relies on ecosystem services, highlighting the crucial role of nature in sustaining economies.
- Vulnerable Populations and Wildlife Decline: Approximately 70% of the world’s most vulnerable people directly depend on wild species. Alarmingly, monitored wildlife populations have experienced an average decline of 69% since 1970, according to the World Wildlife Fund’s Living Planet Report (LPR) 2022.
B. Framework Targets for 2030
The GBF sets out ambitious targets for 2030, including:
- Protection of degraded areas
- Mobilization of resources for conservation
- Compensation for countries preserving biodiversity
- Halting human activities linked to species extinction
- Reducing the spread of invasive alien species
- Cutting pollution levels and minimizing climate change and ocean acidification impacts
C. Key Features of the GBF
- Sustainable Use and Benefit Sharing: The framework encourages sustainable use of biodiversity and emphasizes the sharing of benefits from genetic resources.
- Involvement of Indigenous Communities: The GBF respects the rights of indigenous communities in protecting forests and biodiversity, advocating their involvement in conservation efforts. Similar roles for women and local communities are also encouraged.
- Biodiversity-Supporting Methods: The agreement promotes the adoption of biodiversity-supporting methods such as agroecology and sustainable intensification.
- Access to Justice and Information: The GBF envisions providing access to justice and information related to biodiversity for indigenous peoples and local communities.
- Alignment with Sustainable Development Goals (SDGs): The GBF aligns with the United Nations Sustainable Development Goals.
Key Outcomes of the Biodiversity Framework
A. 30 x 30 Deal
Delegates committed to protecting 30% of land and coastal/marine areas by 2030, including indigenous and traditional territories. The deal also aims to restore 30% of degraded lands and waters, with the goal of minimizing the destruction of intact landscapes and areas with high biodiversity.
B. Money for Nature
Signatories aim to channel $200 billion per year towards conservation initiatives from public and private sources.
C. Reporting Impacts on Biodiversity
Companies are required to analyze and report how their operations affect and are affected by biodiversity issues. The aim is to promote biodiversity, reduce risks to businesses, and encourage sustainable production.
D. Addressing Harmful Subsidies
Countries committed to identifying and eliminating or reforming subsidies that deplete biodiversity by 2025. The goal is to reduce such incentives by at least $500 billion annually by 2030 and increase positive incentives for conservation.
E. Pollution and Pesticides
The agreement aims to reduce pesticide risks by at least 50% by 2030. It also focuses on reducing negative impacts of pollution to non-harmful levels, although no specific quantifiable target is provided.
F. Other Target Areas
- Prevention of species extinction and reducing extinction risks and rates
- Reducing nutrient loss to the environment
- Sustainable management of agriculture, aquaculture, fisheries, and forestry
- Climate change mitigation through nature-based solutions
- Reducing the rate of invasive alien species introduction
- Safe, legal, and sustainable use and trade of wild species
- Greening urban spaces
Funding Challenges for the Global Environment Facility
The funding required to achieve the ambitious goals of the GBF poses a significant challenge for the Global Environment Facility. With an estimated biodiversity finance gap of $700 billion, closing this gap necessitates substantial financial commitments from various stakeholders.
A. Ensuring Sufficient Funding
- Public and Private Contributions: It is crucial to secure both public and private funding sources to reach the financial targets outlined in the GBF.
- Mobilizing International Support: Encouraging international cooperation and collaboration is essential for generating the necessary funding for biodiversity conservation.
B. Addressing Economic Priorities
- Balancing Economic Growth and Environmental Conservation: Convincing governments and decision-makers to prioritize biodiversity funding alongside economic development is a critical step.
- Integrating Biodiversity into Economic Policies: Incorporating biodiversity considerations into economic policies can help demonstrate the economic value of conservation efforts.
C. Engaging Stakeholders
- Corporate Responsibility: Encouraging corporations to align their sustainability goals with the GBF and supporting biodiversity initiatives can contribute to funding conservation efforts.
- Public Awareness and Advocacy: Raising public awareness about the importance of biodiversity conservation can generate support and encourage governments and organizations to allocate more funding.
Important Points:
- The Kunming-Montreal Global Biodiversity Framework (GBF) aims to protect and restore nature, ensure sustainable use, and promote a green global economy.
- The GBF is necessary due to the economic dependency on ecosystem services and the decline of wildlife populations.
- The framework sets targets for 2030, including protection for degraded areas, resource mobilization for conservation, compensation for preserving biodiversity, and reducing human activities linked to species extinction.
- The GBF emphasizes sustainable use of biodiversity and benefit sharing from genetic resources.
- Indigenous communities, women, and local communities play important roles in biodiversity conservation efforts.
- The GBF is aligned with the United Nations Sustainable Development Goals.
- Key outcomes of the GBF include the 30 x 30 deal, aiming to protect 30% of land and coastal/marine areas, and restoring degraded lands and waters.
- $200 billion per year is targeted to be channeled to conservation initiatives.
- Companies are required to report their impacts on biodiversity and promote sustainable production.
- Harmful subsidies depleting biodiversity will be identified and phased out or reformed, with a goal of reducing them by $500 billion annually by 2030.
- Efforts will be made to reduce pesticide risks and pollution impacts on nature.
- Other targets include preventing species extinction, reducing nutrient loss, sustainable management of agriculture and forestry, climate change mitigation, and reducing invasive alien species.
- Funding challenges for the Global Environment Facility (GEF) pose a significant obstacle to achieving GBF goals.
- Mobilizing public and private contributions and international support is crucial to close the estimated biodiversity finance gap of $700 billion.
- Balancing economic growth with environmental conservation and integrating biodiversity into economic policies are important considerations.
- Engaging stakeholders, including corporations and the public, through corporate responsibility and public awareness can help generate support and funding for biodiversity conservation.
Why In News
As the GEF Council prepares to convene in Brazil, the pressing concern of whether the Global Environment Facility (GEF) will secure the necessary funding to effectively pursue the objectives and milestones outlined in the Kunming-Montreal Global Biodiversity Framework remains paramount. The outcome of this meeting holds significant implications for the GEF’s ability to drive impactful actions towards biodiversity preservation on a global scale.
MCQs about Kunming-Montreal Biodiversity Framework
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What is the main purpose of the Kunming-Montreal Global Biodiversity Framework (GBF)?
A. To promote economic growth at the expense of biodiversity
B. To protect and restore nature and ensure sustainable use
C. To prioritize human needs over wildlife conservation
D. To reduce international cooperation in environmental initiatives
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What is the significance of the 30 x 30 deal within the GBF?
A. Protecting 30% of global species from extinction by 2030
B. Allocating 30% of funding for indigenous communities in biodiversity conservation
C. Restoring 30% of degraded lands and waters by 2030
D. Reducing global pollution levels by 30% through sustainable practices
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What is one key outcome related to corporate responsibility in the GBF?
A. Companies are required to disclose their operations’ impact on biodiversity
B. Companies are exempted from any obligations to protect biodiversity
C. Companies receive financial incentives for depleting biodiversity
D. Companies are encouraged to prioritize economic growth over environmental concerns
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What is one challenge facing the Global Environment Facility (GEF) in funding the GBF goals?
A. Limited support from indigenous communities
B. Insufficient scientific evidence for biodiversity conservation
C. Balancing economic growth with environmental conservation priorities
D. Lack of commitment from private corporations in funding conservation initiatives
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