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GEF-hosted GBF fund receives first contributions, GEF to serve High Seas treaty

30 Aug 2023 | by
The Global Environment Facility (GEF) Assembly endorsed the June 2023 decision of the GEF Council creating the Global Biodiversity Framework Fund (GBFF). The Fund will support implementation of the Kunming-Montreal Global Biodiversity Framework (GBF) by providing a new source of funding for protecting endangered species and their ecosystems globally.

Canada and the UK announced initial contributions of CAD 200 million and GBP 10 million, respectively. Convention on Biological Diversity (CBD) Acting Executive Secretary David Cooper urged all participants to mobilize resources to enable GBFF disbursements to developing countries ahead of the 16th meeting of the CBD Conference of the Parties (COP 16).

The Assembly also adopted amendments to the Instrument for the Establishment of a Restructured GEF, enabling it to serve the high seas treaty adopted by governments in June. Formally known as the international legally binding instrument on the conservation and sustainable use of marine biological diversity of areas beyond national jurisdiction (BBNJ), the treaty opens for signature on 20 September 2023 and will need 60 ratifications to enter into force.

According to the Earth Negotiations Bulletin (ENB) summary report of the meeting, the Assembly also took note of the report on the Eighth Replenishment of the GEF (GEF-8) Trust Fund and of the report on the GEF Trust Fund.

The seventh meeting of the GEF Assembly and associated events took place in Vancouver, Canada, from 22-25 August 2023. Meetings convening alongside the Assembly included Youth Leaders Learning Exchange, Dialogue with Multilateral Environmental Agreement (MEA) Secretariats and the GEF, Indigenous and Local Knowledge Event, and the first-ever Partnership Forum, which discussed ways the GEF can support empowerment and recognition of Indigenous Peoples, youth, women, and civil society.

Closing the meeting, Carlos Manuel Rodríguez, GEF CEO and Chairperson, “expressed hope that the Assembly’s participants would leave with these words in mind: integration, inclusiveness, and impact,” ENB reports.

The GEF Assembly meets every four years. It is the main guiding structure for the GEF, comprising 186 member governments. The Assembly provides a forum for discussion leading up to replenishment negotiations and is responsible for reviewing and ratifying recommendations of the Council.

Source: IISD  I  News

Read also: ENB Coverage of Seventh GEF Assembly    I    New global biodiversity fund launched in Vancouver

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Photo: IISD/ENB | Angeles Estrada