Today, the Honourable Ahmed Hussen, Minister of International Development, announced that Canada will invest 0 million in the new fund, making Canada the first country to contribute. In Montréal last December, global delegates at the 15th Conference of Parties (COP15) committed to creating the Global Biodiversity Framework Fund (GBFF) to help halt and reverse biodiversity loss and put nature on a path to recovery. Today, as Canada hosts the world once again—this time in Vancouver at the Seventh Assembly of the Global Environment Facility Assembly (GEF)—that fund was launched. The GBFF will quickly mobilize new resources and disburse them to developing countries to support their efforts to protect and restore nature and grow resilient economies. Additionally, the new fund will invest in the world’s most diverse, rich and unique ecosystems through 3 critical innovations: At home and on the world stage, Canada is taking action to protect nature and keep our planet healthy for generations to come. Minister Hussen also announced that Canada is providing an additional .8 million in funding for the GEF’s Eighth Replenishment to further support the GEF’s efforts to tackle the triple planetary crisis of climate change, biodiversity loss and pollution. This additional funding builds on Canada’s initial contribution of 9 million to the GEF’s Eighth Replenishment, which was announced at COP15 and highlights Canada’s continued dedication to real action that will help end global biodiversity loss. The GEF Assembly continues until Saturday, August 26.
- supporting Indigenous and local action to protect and conserve biodiversity, with the goal of devoting as much as 20% of programming toward projects that support these initiatives
- delivering 25% of the fund through selected international financial institutions, a key way to increase resources through private sector involvement and to ensure policies are coherent
- prioritizing at least 36% of the fund’s resources to support the most vulnerable people, small island developing states and least developed countries
August 24, 2023 – Vancouver, British Columbia – Global Affairs Canada Minister Hussen made the announcement in Vancouver, where he is co-hosting and chairing the GEF Assembly, which runs from August 22 to 26.
