Global Biodiversity Framework Fund (GBFF)

According to experts, if Global Biodiversity Framework Funds (GBFF) fails to find adequate money, countries will have to find more funds domestically.

Establishment – It was launched at the 7th Assembly of the Global Environment Facility (GEF) in Canada in 2023 where Canada and the United Kingdom made the initial contributions.
Objectives
- To help countries achieve the 23 targets set under the KMGBF (the Kunming-Montreal Global Biodiversity Framework).
- To receive funding from all sources and quickly disburse through streamlined procedures.
- To enhance the access for indigenous peoples and local communities, according to their own priorities.
Finance - Private, philanthropic and government investments unlike GEF, which relied on just 40 donors for finance.
- It has a cumulative budget of 5.25 billion USD for 2022-26, of which 36% is for biodiversity and the remaining is for projects on climate change, pollution, land and ocean health.
Managed by – Global Environment Facility (GEF)
Trustee of the GBFF – World Bank
GBFF Council – More representations from developing countries than developed and decisions are to be taken by consensus.
Activities – It will be used to approve projects until December 31, 2030, unless otherwise decided by the Council or the COP of UNFCC.

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