The Global Biodiversity Framework Fund (GBFF) will scale up financing for the implementation of the Kunming-Montreal Global Biodiversity Framework.
The GBFF aims to help countries achieve the Global Biodiversity Framework goals and targets with a strategic focus on strengthening national-level biodiversity management, planning, policy, governance, and finance approaches. The Fund was ratified by 186 countries and launched at the Seventh GEF Assembly in Vancouver, Canada in August 2023.
Public, private, and philanthropic funding will be disbursed through the GBFF’s streamlined funding procedures. The Fund will provide enhanced support to Indigenous Peoples and local communities, Small Island Developing States, and Least Developed Countries, according to their own priorities.
Initial contributions totaling more than $200 million from Canada, the United Kingdom, and Germany allow for the operationalization of the GBF Fund. Subsequently, Japan announced a contribution during the COP28 climate talks. Spain pledged further funding during the 66th GEF Council meeting.
“The creation of this biodiversity fund is a game-changer for countries’ ability to protect, restore, and ensure the sustainable use of nature.” - Carlos Manuel Rodríguez, GEF CEO and Chairperson
The 1st Global Biodiversity Framework Fund Council Meeting took place on February 8-9, 2024 in Washington, DC.