UK among first countries to back new nature recovery fund
During the Global Environment Facility assembly in Canada, the UK announced it would stand among the first countries to contribute to the newly launched Global Biodiversity Framework Fund.
- Launch of a new global fund to tackle biodiversity decline worldwide
- UK among first countries to contribute £10 million to the fund
- Over 185 environment leaders convene in Canada to address environmental concerns
The UK government has demonstrated its commitment to reversing the decline in nature by being one of the first countries to contribute to a newly established international fund aimed at tackling global biodiversity loss.
Previously funded work included providing new software to support rangers in Africa to track and protect animals from poachers, targeted finance towards more effective ocean management strategies in Asia, and helping to safeguard the world’s remaining ancient primary forests.
Nature is the foundation of our livelihoods, supporting food production, economic prosperity and security. But nature loss around the world is taking place faster than ever before with more than 1 million species being at risk of extinction due to habitats such as coral reefs, rainforests and peatlands being lost.
£10 million of UK funding to implement the Global Biodiversity Framework Fund (GBFF) was announced yesterday evening (24 August 2023) during the Global Environment Facility assembly in Vancouver, Canada. During the assembly, Nature Minister Trudy Harrison pledged the contribution which will go towards protecting species and ecosystems globally.
The newly launched fund will support the implementation of the landmark Kunming-Montreal Global Biodiversity Framework (GBF) - agreed by almost 200 countries - which sets out a plan of action to half and reverse biodiversity loss by 2030.
Nature Minister Trudy Harrison said:
As we confront the critical challenge of halting and reversing biodiversity loss around the world, working together has never been more important.
Our initial contribution to the Global Biodiversity Framework Fund showcases the United Kingdom’s ongoing dedication to protecting our planet’s natural diversity – and through vital international cooperation we are paving the way for a more sustainable future for our planet.
Now that the fund has been launched, it will build on the existing work of the Global Environment Facility (GEF).
The GEF supports developing countries in tackling major environmental problems and provides funding for environmental projects in 144 Overseas Development Aid eligible countries. It will support implementation of the Global Biodiversity Framework and the fund will be open to all sources of financial contributions.
More than half of global GDP – $44 trillion – is linked to biodiversity and supports the livelihoods of some of the remotest communities on the planet. That is why the UK is already leading the way by delivering its commitment to spend £3 billion of its £11.6 billion International Climate Finance pledge on protecting, restoring and sustainably managing nature.
As leader of the Global Ocean Alliance and Ocean Co-chair of the High Ambition Coalition for Nature and People, the UK continues to champion the ‘30by30’ target, and other ambitious outcomes for the land, ocean and species.
The UK is also taking action at home through the Environmental Improvement Plan which set outs out the range of actions the UK will take domestically to meet its commitment to protect 30% of the world’s land and ocean by 2030 and halt and then reverse the decline in nature. For example, since 2010 we have created or restored priority habitat equivalent to the size of Dorset, we are investing more than £750 million in tree-planting and peatland restoration through our Nature for Climate Fund, and we have established a network of marine protected areas across 35,000 square miles of English waters.