What
In August 2023, the Global Biodiversity Framework Fund (GBFF) was ratified and launched at the Seventh Assembly of the Global Environment Facility (GEF) to support the implementation of the Kunming-Montreal Global Biodiversity Framework, its goals, and its targets. The Fund will mobilize and disburse new and additional resources from public, private, and philanthropic sources, with a focus on the sustainability of biodiversity and ecosystems, and access for Indigenous Peoples and Local Communities. As part of its establishment, it was agreed that 39% of the GBFF resources should be allocated to LDCs and SIDS, prioritizing vulnerable countries for finance. The GEF acts as the fund’s trustee, and the fund increases the GEF’s importance and visibility in the biodiversity landscape.

Goal
The GBFF aims to support the implementation of the Global Biodiversity Framework through mobilizing and accelerating investment in conservation and sustainability of natural ecosystems through streamlined disbursement mechanisms and enhanced access. Specifically, the Fund aims to ensure access for Indigenous People and Local Communities according to their own priorities for nature, and to direct over a third of resources to LDCs and SIDS, enhancing access for the most vulnerable.

Benefits
The establishment of the new GBF Fund will ensure specific funding streams for implementation of the Global Biodiversity Framework, aiming to bridge the finance gap for nature. The structure of the Fund should mean that it is able to respond quickly and prioritize access for Indigenous Peoples and Local Community groups, and the most vulnerable countries.

Recent activities
The Fund was ratified with the announcement of CAD $200 million from Canada, GBP £10 million from the United Kingdom, and €40 million from Germany (correct as of November 2023).

Next steps and lessons learned
The GBFF will need further pledges and funding from other sources so that the first projects under the new Fund can be launched ahead of COP16. Additional resources will need to be mobilized from domestic sources, at all levels of government, the private sector, and innovative mechanisms.

Synergies with other Points of the 10 Point Plan
1 – International Finance Flows

Relevant links and resources
New global biodiversity fund launched in Vancouver | GEF (thegef.org)