By Faridat Salifu
The newly established Global Biodiversity Framework Fund (GBFF) has greenlit project preparation grants amounting to nearly $40 million for Brazil, Garbon and Mexico.
The grants mark a pivotal moment in international conservation efforts, providing crucial support to proposed initiatives in biodiversity in the three countries.
The project, which is housed within the Global Environment Facility, aims to bolster long-term financing strategies, enhance management practices, and facilitate the expansion of protected areas in the benefitting countries.
These grants seek to foster sustainable conservation practices that align with the objectives outlined in the Kunming-Montreal Global Biodiversity Framework.
Carlos Manuel Rodríguez, CEO and Chairperson of the GEF, expressed happiness at the approval of the grants, emphasizing their potential to catalyze impactful conservation action.
Rodríguez also commended Brazil, Gabon, and Mexico for their commitment to advancing meaningful initiatives supported by the GBFF.
He underscored the importance of these efforts in achieving the ambitious biodiversity goals set for 2030, heralding a promising start on the path to the upcoming COP16 in Colombia.
Also, David Cooper, Acting Executive Secretary of the Convention on Biological Diversity, hailed the approval of project preparation grants as a significant milestone ahead of the forthcoming Conference of Parties.
Encouraged by this early progress, Cooper expressed hope that it would inspire more countries to submit proposals and encourage additional donors to contribute to the fund.
Notably, a substantial portion of the funding allocated for the initial four initiatives will be directed towards supporting actions led by Indigenous Peoples and local communities.
With an aspirational goal of dedicating at least 20 percent of its funding to conservation efforts led by these communities, the GBFF underscores its commitment to inclusive and sustainable biodiversity conservation practices on a global scale.