A glimmer of hope has emerged for the global biodiversity crisis, as six European nations have pledged new funding to the world’s foremost biodiversity fund. Austria, Denmark, France, Germany, Norway, and the UK have announced fresh contributions to the Global Biodiversity Framework Fund (GBFF) at the UN biodiversity summit currently underway in Colombia. This crucial fund, born out of the landmark Kunming-Montreal Agreement in 2022, aims to channel financial resources to countries and communities working to safeguard nature.
The GBFF has already made significant strides. In less than a year since its launch, it has approved and funded projects in Brazil, Fiji, Gabon, and Mexico. The Mexico project, for instance, will strengthen national protected areas, playing a crucial role in the GBFF’s overarching goal of protecting 30% of the planet by 2030. Currently, 24 developing countries are accessing support from the fund, with 18 additional ‘project preparation grants’ also approved this summer.
The recent European pledges, however, are seen as just a starting point by environmental groups. While the GBFF is already demonstrating its ability to deliver for both nature and people, experts argue that much more financial support is needed from a wider range of nations.
“This is about money and morale,” emphasized Astrid Schomaker, Executive Secretary of the Convention on Biological Diversity. “We know that the fund is needed now more than ever.”
The GBFF has garnered contributions from public, private, and philanthropic sources, with European nations now comprising eight of the fund’s 12 donors. Other contributors include Canada, Japan, New Zealand, and Quebec. This week alone, additional pledges from these nations have added $163 million (€196 million) to the fund.
Germany, leading the way, will contribute €50 million in 2024, bringing its total contribution to €90 million. The UK is adding £45 million (roughly €54 million) to its 2023 contribution, for a total of around €66 million. Denmark is contributing 100 million Danish kroner (around €13.4 million) this year, while Norway has pledged 150 million Norwegian kroner (around €12.7 million) subject to parliamentary approval. Spain and Luxembourg have also pledged €10 million and €7 million, respectively, earlier this year. France has committed €5 million for 2024, and Austria is contributing €3 million pending final internal approval.
While this surge in funding is welcomed, environmental organizations like Fauna & Flora emphasize the need for significantly higher annual commitments from more nations. “This is the minimum we need from these countries,” says Kristian Teleki, CEO of Fauna & Flora. “We need a lot more committed, from many more nations.”
The urgency of the situation cannot be overstated. Nature’s survival hinges on financial support, and the consequences of inaction will reach far beyond dollars. The time for empty promises is over. We need concrete action, driven by global solidarity, to ensure the health of our planet for generations to come.
