Eight governments have committed an additional $163 million to the Global Biodiversity Framework Fund (GBFF), marking a significant step forward in global conservation efforts. Announced at the Convention on Biological Diversity’s COP16, these pledges aim to bolster the implementation of the Kunming-Montreal Global Biodiversity Framework, a crucial plan to protect and restore nature worldwide. This financial boost, equivalent to approximately 150 million euros at current exchange rates, underscores the growing international commitment to addressing biodiversity loss and ensuring a sustainable future for our planet.
The new contributions come from Austria, Denmark, France, Germany, New Zealand, Norway, the United Kingdom, and Québec, with Québec notably becoming the first sub-national government to pledge to the GBFF. These nations join existing contributors like Canada, Japan, Luxembourg, and Spain, expanding the fund’s reach and impact. The announcement was met with enthusiasm from representatives of donor and recipient countries, Indigenous Peoples, local communities, and implementing agencies, all gathered at COP16 to advance global biodiversity goals.
Astrid Schomaker, Executive Secretary of the Convention on Biological Diversity, emphasized the urgency and importance of the funding. “We know that the fund is needed now more than ever. We need it to be capitalized to permit resources to flow urgently to the national implementation of the Global Biodiversity Framework,” she stated. Schomaker highlighted the dual impact of these pledges, noting, “This is about money and morale. A message of hope and global solidarity.” Her words resonate with the pressing need for both financial resources and international cooperation to tackle the biodiversity crisis effectively.
Colombia’s Environment Minister and COP16 President Susana Muhamad echoed this sentiment, stating, “We all should consider ourselves partners with a common objective, which is actually in this case being able to implement the Kunming-Montreal Global Biodiversity Framework.” The collaborative spirit underscored by Minister Muhamad is essential for achieving the ambitious targets set out in the framework.
The Global Biodiversity Framework Fund: A Catalyst for Change
Established at COP15 and launched in August 2023, the GBFF is designed to efficiently support developing countries in their biodiversity conservation and restoration efforts. The fund operates with streamlined procedures to ensure resources are deployed quickly and effectively. It welcomes contributions from diverse sources, including governments, the private sector, and philanthropic organizations, recognizing that a collective effort is required to meet the scale of the challenge.
Carlos Manuel Rodríguez, GEF CEO and Chairperson, highlighted the rapid progress of the GBFF. “In less than one year, the GBFF has moved from launch to full-speed operation, with projects already reviewed, approved, and funded, and many more in the pipeline. The growing number of governments contributing to the GBFF is a sign of its momentum,” Rodríguez explained. He emphasized the fund’s efficiency and commitment to impactful action: “Now that the fund is up and running, we have the systems in place to disburse support efficiently and at low cost. We are focused on continued improvements to keep up with the pace of ambition for biodiversity action, while keeping the necessary safeguards to ensure quality and trust for long-term, lasting results for nature.”
Québec’s pioneering pledge as the first sub-national government demonstrates the broad-based support for the GBFF. Martine Biron, Minister of International Relations and la Francophonie, Government of Québec, articulated the importance of this inclusive approach: “If we want to ensure the successful implementation of the Kunming-Montréal Global Biodiversity Framework, and make sure to leave no one behind, we need to fully endorse a whole of society and whole of government approach.” Québec’s commitment, translating to a significant contribution in both dollars and euros, sets a precedent for other regions to join the global biodiversity finance effort.
From Pledges to Projects: GBFF in Action
The GBFF is not just about raising funds; it’s about delivering tangible results on the ground. In June 2024, the GBFF Council approved its first work program, which includes four projects in Brazil, Gabon, and Mexico, along with 18 project preparation grants. Currently, 24 developing countries, including 13 Least Developed Countries and Small Island Developing States, are benefiting from GBFF support. This rapid deployment of resources highlights the fund’s operational efficiency and commitment to making a real difference in biodiversity conservation.
GBFF support is strategically designed to strengthen national-level biodiversity management, policy frameworks, governance, and resource mobilization. This includes facilitating blended finance approaches to leverage private sector investment in biodiversity. Furthermore, the fund prioritizes inclusivity, with a target of directing 20 percent of its funding to support biodiversity initiatives led by Indigenous Peoples and local communities, recognizing their crucial role in conservation and sustainable resource management.
Global Leaders Unite for Biodiversity
The additional pledges to the GBFF have been welcomed by environment ministers and officials worldwide, underscoring the collective recognition of the urgent need for biodiversity finance.
Steven Guilbeault, Canada’s Minister of Environment and Climate Change, emphasized the ongoing need for increased funding: “These new pledges to the Global Biodiversity Fund are necessary to keep up momentum and contribute to close the biodiversity finance gap. It’s great to see partners like the government of Québec supporting these efforts. I urge all countries in a position to do so, as well as the private sector, philanthropic organizations, and other entities, to contribute to and collaborate with the GBFF to ensure the fund’s ongoing success and the full delivery of the Kunming-Montreal Global Biodiversity Framework objectives.”
Denmark’s Environment Minister, Magnus Heunicke, highlighted the shared global responsibility: “We have a shared global responsibility to protect nature and biodiversity, and urgent joint action is needed if we are to protect and restore the species and habitats that remain. With this support to the Global Biodiversity Framework Fund, we emphasize the Danish commitment to conserve biodiversity globally.”
Agnès Pannier-Runacher, French Minister for Ecological Transition, Energy, Climate and Risk Prevention, pointed to France’s commitment to international biodiversity finance: “With this first contribution to the GBFF, we are proud to stand alongside other donors and demonstrate our support for this fund, whose creation and first projects have been approved in record time, with a dedicated funding window for vulnerable countries that we wish to replicate and expand in the context of GEF-9.”
Jochen Flasbarth, Germany’s State Secretary of the Federal Ministry for Economic Cooperation and Development (BMZ), announced a significant contribution from Germany: “Therefore, Germany will contribute an additional 50 million euro to the GBFF in 2024. However, additional funding from public and private sources is essential to keep up the GBFF’s promising development. That is why Germany is committing additional resources and urges other countries to join this effort!” Germany’s substantial euro commitment further solidifies the European contribution to the fund, highlighting the relevance of figures like “163 Euros To Dollars” when considering international finance flows.
Securing a Nature-Positive Future
The Global Biodiversity Framework Fund represents a critical financial mechanism for achieving the ambitious goals of the Kunming-Montreal Global Biodiversity Framework. The latest pledges, totaling $163 million – or approximately 150 million euros – demonstrate a growing global momentum to protect and restore biodiversity. As Serge Wilmes, Luxembourg’s Minister for the Environment, Climate and Biodiversity, aptly stated, “A united effort is crucial for achieving the Kunming-Montreal Global Biodiversity Framework goals. Together, we are building positive momentum and showcasing our dedication to a sustainable future.” The GBFF is proving to be a vital instrument in translating global commitments into concrete actions for nature and people, paving the way for a more sustainable and biodiverse world.
For more information about the Global Biodiversity Framework Fund, please visit The Global Biodiversity Framework Fund.
To learn more about the Global Environment Facility, visit Global Environment Facility.
