New global biodiversity fund launched in Vancouver

Addis Ababa, August 25, 2023 (FBC) – In good news for nature in a challenging moment, representatives of 185 countries agreed at the Global Environment Facility’s Seventh Assembly in Canada to launch an innovative new fund for biodiversity that will attract funding from governments, philanthropy, and the private sector.

It is noted that the new Global Biodiversity Framework Fund (GBFF) has been designed to mobilize and accelerate investment in the conservation and sustainability of wild species and ecosystems, whose health is under threat from wildfires, flooding, extreme weather, and human activity including urban sprawl.

The new fund was ratified and launched at the GEF Assembly in Vancouver, where two countries announced initial contributions to start its capitalization. This included 200 million Canadian dollars from Canada and 10 million pounds from the United Kingdom.

The GEF Assembly has brought together 1,500 people from around the world, including environmental leaders and managers from government, business, academia, and civil society, including Indigenous Peoples, women, and young people.

Ethiopian delegation, led by the Environmental Protection Authority Director General Getahun Garedew, has participated in the GEF Assembly in Vancouver, Canada, where the Mr. Getahun met and discussed with the leadership of GEF.