UN: $200 billion increase in fund flow to developing countries for managing nature

Source: Down To Earth  

What is the News? 

The UN Convention on Biological Diversity(CBD) Secretariat has released the first official draft of a new Global Biodiversity Framework. 

About Global Biodiversity Framework: 

• The Global Biodiversity Framework will be the global guiding force to protect nature and to retain its essential services for humans from 2020 to 2030. 

Goals of the Framework: The framework has four long-term goals for 2050 related to the 2050 Vision for Biodiversity. Each 2050 goal has a number of corresponding milestones to be assessed in 2030: 

1. Goal 1: To halt the extinction and decline of biodiversity, with the rate of extinction to be reduced at least tenfold. Further the risk of species extinction to be halved and with at least 90% of genetic diversity within all species maintained. 
2. Goal 2: To enhance and retain nature’s services to humans by conserving.  
3. Goal 3: To ensure fair and equitable benefits to all from the use of genetic resources.  
4. Goal 4: To close the gap between available financial and other means of implementation and those necessary to achieve the 2050 Vision. 

2030 action targets: The framework has 21 action-oriented targets for urgent action over the decade to 2030. Some important targets are: 

• To ensure that all land and sea areas globally are under integrated biodiversity-inclusive planning. 
• To ensure that at least 20% of degraded freshwater, marine, and terrestrial ecosystems are under restoration. 
• To ensure that at least 30% of land areas and sea areas are effectively conserved and equitably managed. 
• To ensure that the harvesting, trade, and use of wild species are sustainable, legal, and safe for human health. 
• Financial commitment has to increase to at least $200 billion per year. This includes an additional $10 billion per year international financial flow to developing countries. 
• To ensure a 50% or greater reduction in the rate of introduction of invasive alien species, and controls or eradication of such species to eliminate or reduce their impacts. 
• Reducing nutrients lost to the environment by at least half, and pesticides by at least two-thirds, and eliminating the discharge of plastic waste.