Environmental leaders from 185 countries have agreed to establish the Global Biodiversity Framework Fund at the Global Environment Facility’s seventh assembly. This innovative fund aims to attract funding from governments, philanthropy, and the private sector to accelerate investment in conserving and sustaining wild species and ecosystems threatened by factors such as wildfires, flooding, extreme weather, and human activities like urban sprawl.
The fund will mobilize new and additional resources from various sources, with a special focus on Indigenous-led initiatives for biodiversity protection. Small Island Developing States and Least Developed Countries will also receive significant support, aligning with the goals of the Kunming-Montreal Global Biodiversity Framework. The assembly, held in Vancouver, Canada from August 22-26, has brought together representatives from around the world to address environmental challenges.