Description
Context
- The United Nations Convention on Biological Diversity (CBD) demanded an additional $200 billion fund flow to developing countries from various sources to manage nature through 2030.
Global Biodiversity Framework
- It is one of the many demands that have been set through in official draft of new Global Biodiversity Framework.
- It will be the global guiding force to protect nature and to retain its essential services for humans from 2020 to 2030.
- The new frameworks have four goals to achieve by 2050.
First goal:
- to halt the extinction and decline of biodiversity with “the rate of extinctions has been reduced at least tenfold and the risk of species extinctions across all taxonomic and functional groups is halved.
- Genetic diversity of wild and domesticated species is safeguarded, with at least 90 per cent of genetic diversity within all species maintained.
Second goal
- to enhance and retain nature’s services to humans by conserving.
Third goal
- to ensure fair and equitable benefits to all from use of genetic resources.
Fourth goal
- to close “the gap between available financial and other means of implementation and those necessary to achieve the 2050 Vision”.
- The framework’s demand for more financial support to developing countries, the worst victims of biodiversity losses.
- Adequate financial resources to implement the framework are available and deployed, progressively closing the financing gap up to at least $700 billion per year by 2030.
- Urgent policy action globally, regionally and nationally is required to transform economic, social and financial models so that the trends that have exacerbated biodiversity loss will stabilise by 2030 and allow for the recovery of natural ecosystems in the following 20 years, with net improvements by 2050.
- It aims to ensure the right capacity building of the communities /governments to take up conservation measures to meet the goals.
- These include the contentious technology transfer to countries that don’t have it currently and also a wide scientific cooperation among countries.
About United Nations Convention on Biological Diversity (CBD)
- CBD is a legally binding Convention recognized for the first time, that the conservation of biological diversity is “a common concern of humankind” and is an integral part of the development process.
- The agreement covers all ecosystems, species, and genetic resources.
Objectives
- The conservation of biodiversity
- Sustainable use of the components of biodiversity
- Sharing the benefits arising from the commercial and other utilization of genetic resources in a fair and equitable way
- It acknowledges that substantial investments are required to conserve biological diversity.
https://www.downtoearth.org.in/blog/wildlife-biodiversity/un-200-billion-increase-in-fund-flow-to-developing-countries-for-managing-nature-77912
