Context:

At Convention on Biological Diversity (CBD), the COP15 biodiversity conference in Montreal, India highlighted the burden of implementing the targets for conservation on developing nations and the need for a dedicated fund to help them.

About

About COP-15

• The 15^th Conference of Parties COP15, to the UN Convention on Biological Diversity, is the most important gathering on biodiversity in a decade.
• It aims at achieving a historic deal to halt and reverse biodiversity loss on par with the 2015 Paris Agreement on climate change. Its precise commitment is:
• Holding the increase in the global average temperature to well below 2? above pre-industrial levels
• To pursue efforts to limit the temperature increase to 1.5? above pre-industrial levels.
• “Kunming-Montreal Global Biodiversity Framework” (GBF) was adopted. GBF includes 4 goals and 23 targets for achievement by 2030.
• The U.N. biodiversity conference was concluded in Canada Montreal.

What are the Key Targets of the GBF?

• 30x30 Deal:
• Restore 30% of degraded ecosystems globally (on land and sea) by 2030.
• Conserve and manage 30% of areas (terrestrial, inland water, and coastal and marine) by 2030.
• Stop the extinction of known species, and by 2050 reduce tenfold the extinction risk and rate of all species (including unknown)
• Reduce risk from pesticides by at least 50% by 2030 Reduce nutrients lost to the environment by at least 50% by 2030
• Reduce pollution risks and negative impacts of pollution from all sources by 2030 to levels that are not harmful to biodiversity and ecosystem functions
• Reduce the global footprint of consumption by 2030, including through significantly reducing overconsumption and waste generation and halving food waste
• Sustainably manage areas under agriculture, aquaculture, fisheries, and forestry and substantially increase agroecology and other biodiversity-friendly practices
• Tackle climate change through nature-based solutions
• Reduce the rate of introduction and establishment of invasive alien species by at least 50% by 2030
• Secure the safe, legal and sustainable use and trade of wild species by 2030
• Green up urban spaces

Key points highlighted by India:

• Resource Mobilization Mechanism: There is a need to create a new and dedicated fund to implement a post-2020 Global Biodiversity framework (GBF)to halt and reverse biodiversity loss.
• It will ensure effective implementations of the post-2020 GBF by all countries.
• Common but Differentiated Responsibilities and Respective Capabilities' (CBDR) must be the basis of the conservation of biodiversity.
• Cost and the burden of environmental recovery fall disproportionatelyon the countries that can least afford them
• Need to put in place a Resource Mobilization Mechanism.
• Ecosystem approachesfor the conservation of biodiversity need to be adopted rather than going for nature-based solutions.
• The parties are trying to achieve a consensus on eliminating subsidies that are harmful to the environment. But India differentiates on this issue.
• GBF must be framedconsidering science and equity and the sovereign right of countries.

What is the Post-2020 Global Biodiversity Framework?

• The post-2020 global biodiversity framework builds on the Strategic Plan for Biodiversity 2011-2020.
• It aims to spur urgent and transformative action by Governments and all of society to contribute to the objectives of the Convention on Biological Diversity, its Protocols, and other biodiversity-related multilateral agreements, processes, and instruments.
• The draft GBF is set to replace the Aichi Biodiversity Targets.

Why does India differ in reducing the agriculture-related subsidy?

• Agriculture is a paramount economic driverfor rural communities.
• The majority of the rural population in India is dependent on agricultureand allied sectors.
  • So, the critical support provided to these sectors cannot be redirected.
• Food Security: It is of utmost importance for developing countries.
  • So, prescribing numerical targets for pesticide reductions is unnecessary.
  • It must be left to countries to decide, based on national circumstances, priorities and capabilities.

Other important Global Climate Funds

• Green Climate Fund (GCF):It was established to limit or reduce Greenhouse Gas (GHG) emissions in developing countries and to help vulnerable societies adapt to the unavoidable impacts of climate change.
• Adaptation Fund (AF):It was established under the Kyoto Protocol in 2001 and has committed USD 532 million to climate adaptation and resilience activities.
• Global Environment Fund (GEF): GEF has served as an operating entity of the financial mechanism since the Convention came into force in 1994.
  • It is a private equity fund focused on seeking long-term financial returns through investments in clean energy under climate change.
• Additional Funds: In addition to guiding the GEF and the GCF, parties have established two special funds:
  • The Special Climate Change Fund (SCCF) and the Least Developed Countries Fund (LDCF).
  • Both funds are managed by the GEF.

About Global Environment Facility (GEF) The Global Environment Facility (GEF) is the key source of funding for biodiversity conservation. It caters to multiple conventions, including the UNFCCC and UN Convention to Combat Desertification. It remains the only source of funding for biodiversity conservation. Global Environment Facility – Key Areas As an independently operating financial organization, GEF addresses six designated focal areas which are listed below. Biodiversity Climate change International waters Ozone depletion Land degradation Persistent Organic Pollutants