Financial Mechanism and Resources

Global Biodiversity Framework Fund

Consultations on the establishment of the Kunming-Montreal Global Biodiversity Framework Fund by the Global Environment Facility, Notification to: CBD National Focal Points, ABS Focal Points, Cartagena Protocol Focal Points, SCBD/IMS/NP/YX/GT/90953 (2023-041), 2023-04-10

Updated draft documents on the establishment of the Kunming-Montreal Global Biodiversity Framework Fund by the Global Environment Facility, Notification to: CBD national focal points, ABS focal points, Cartagena Protocol focal points, SCBD/IMS/NP/YX/GT/90953 (2023-056), 2023-05-19

Notification on final design documents for the GEF Council at its sixty-fourth meeting, in Brasilia, Brazil, from 26 to 30 June 2023. These include: GEF/C.64/05 (Establishment of a New Trust Fund: Global Biodiversity Framework Fund, and GEF/C.64/06 (Programming Directions for the Global Biodiversity Framework Fund)

Notification on the first programming tranche of the Global Biodiversity Framework Fund to: CBD national focal points, ABS focal points, Cartagena Protocol focal points, 2024-024 (SCBD/IMS/NP/91580), and the recording of the virtual meeting

As of 8 February 2024 (base for exchange rates), US dollar equivalent 219.2 million in pledges and 54.6 million in paid amount

Donor	Pledges	Signed agreements	Paid	USD amount
Canada	CAD 200	CAD 200	-	-
Germany	EUR 40	EUR 40	EUR 40	41.7
United Kingdom	GBP 10	-	-
Spain	EUR 10	EUR 10	EUR 10	10.9
Japan	JPY 650	-	-	-
Luxembourg	Eur 7	-	-	-

Decision 09/2023 Establishment of a new trust fund: Global Biodiversity Framework Fund, 64TH GEF Council Meeting, 26 –29 June 2023, Brasilia, Brazil

• 66. The Council, having considered document GEF/C.64/05/Rev.01, Establishment of a New Trust Fund: The Global Biodiversity Framework Fund, approves the arrangements proposed for the establishment of a new trust fund, with the aim to support the Kunming-Montreal Global Biodiversity Framework.
• 67. The Council invites the World Bank to act as Trustee for the new Global Biodiversity Framework Fund.

Decision 10/2023 Programming Directions for the Global Biodiversity Framework Fund, 64TH GEF Council Meeting, 26 –29 June 2023, Brasilia, Brazil

• 68. The Council, having considered document GEF/C.64/06/Rev/01, the Programming Directions of the Global Biodiversity Framework Fund, approves the programming directions, with the aim to support the Kunming-Montreal Global Biodiversity Framework, including the principles set forth therein by which resources will be allocated. Action areas of the GBF Fund are:
• Action Area One: Biodiversity conservation, restoration, land/sea-use and spatial planning (Targets 1, 2, and 3)
• Action Area Two: Support to IPLC stewardship and governance of lands, territories, and waters (Targets 1,2, 3, and 22)
• Action Area Three: Policy alignment and development (Targets 14, 15, 18)
• Action Area Four: Resource mobilization (Targets 18 and 19)
• Action Area Five: Sustainable use of biodiversity (Targets 5 and 9)
• Action Area Six: Biodiversity mainstreaming in production sectors (Targets 7 and 10)
• Action Area Seven: Invasive alien species (IAS) management and control (Targets 6)
• Action Area Eight: Capacity building and implementation support for biosafety, handling of biotechnology and access and benefit sharing, including under the Nagoya and Cartagena protocols (Targets 13 and 17)
• GBF Fund Support to Enabling Factors and Project Design and Operations

Decision GBFF 1/2024: Policy on Allocation of Resources for the Global Biodiversity Framework Fund, 1st GBFF Council Meeting, 8-9 February 2024, Washington D.C., USA

• 4. The Council, having considered document GEF/GBFF.01/03/Rev.03, Policy on Allocation of Resources for the Global Biodiversity Framework Fund (GBFF), approves the GBFF Resource Allocation Policy contained in Annex I.
• SELECTION ROUNDS: All resources allocated in a country-driven manner through consecutive selection rounds, using 7 selection criteria agreed: 1.Potential to generate Global Environmental Benefits; 2.Alignment with the GBFF Programming directions and advancing the GBF implementation; 3.Alignment with the NBSAP and Biodiversity Finance Plan or similar instruments to identify national and/or regional priorities; 4.Level of policy coherence and coordination across multiple ministries, agencies, the private sector and civil society; 5.Balance amongst regions; 6.Mobilization of private sector and philanthropies’ resources; 7.Engagement with and support to IPLCs
• BD DIFFERENTIATION THROUGH COUNTRY-SPECIFIC CEILINGS: Share of GBFF resources a given country may receive limited to twice its share of the GEF-8 BD STAR allocation
• THREE PORTFOLIO-LEVEL TARGETS: 36%+3% allocated to SIDS/LDCs; A full 25% to be programmed through IFIs; Aspirational share of 20% by 2030 to support actions by IPLCs
• Programming tranches triggered by capitalization thresholds or two-year time limit: Tranche 1 is opens upon policy approval and subsequent tranches open after the next $250M is received

Decision GBFF 2/2024: Global Biodiversity Framework Fund Project Cycle Policy, 1st GBFF Council Meeting, 8-9 February 2024, Washington D.C., USA

• 5. The Council, having considered document GEF/GBFF.01/04/Rev.02, Global Biodiversity Framework Fund (GBFF) Project Cycle Policy, approves the Policy, which will apply to all GBFF projects as of the effective date of its approval.
• 6. The Council delegates the authority to the GEF CEO to approve projects up to US$ 5 million.
• 7. The Council approves to require a Mid-Term Review for projects above US$ 2 million
• A single project modality namely “GBF Fund Project”
• The GEF Secretariat (through the CEO) approves a simplified PPG
• Agencies prepare the project document within 9 months of PPG approval
• Fully prepared projects will be presented to Council for approval as part of formal Work Programs
• Project Implementation starts with first disbursement
• STAP will provide comments prior to council. Council can provide comments up to 2 weeks after GBFF Council meetings

Decision GBFF 3/2024 FY24 and FY25 Administrative Budget and Business Plan for the Global Biodiversity Framework Fund, 1st GBFF Council Meeting, 8-9 February 2024, Washington D.C., USA

• 8. The Council, having considered document GEF/GBFF.01/05, FY24 and FY25 Administrative Budget and Business Plan for the Global Biodiversity Framework, approves the proposed FY24 and FY25 budget for the GEF Secretariat, Scientific and Technical Advisory Panel (STAP), the Trustee, and the Independent Evaluation Office (IEO) as follows:
• i. FY24: $1,665,857 (GEF Secretariat), $18,167 (STAP), and $462,000 (Trustee), and $0 (IEO), and
• ii. FY25: $3,592,540 (GEF Secretariat), $384,614 (STAP), $404,000 (Trustee), and $693,000 (IEO).

Target of the GBF	GEF-8 Trust Fund support and gaps	GBF Fund complementarity and scaling up support	Biodiversity, Land Degradation, and International Waters Focal Areas strategy support and funding trends	GBF Fund complementary support
Target 1	Supported partially but focused on site and subnational levels	Expand spatial and land/sea-use planning from site and sub-national level to national level to achieve the ambition of the Target.	Spatial and land/use planning is supported within the context of integrated landscape/seascape management interventions. Very limited national level efforts.	This target will be addressed by Action Areas One and Two. Scale up and expand spatial and land/sea-use planning from site and sub-national level to national level including relevant sectoral ministries, and IPLCs in the planning process, and integrating Indigenous knowledge for spatial and land/sea-use planning, as appropriate.
Target 2	Supported partially but gaps in support for restoration at national level in areas of importance for globally significant biodiversity.	Identify and begin restoration of national-level priority areas to enhance biodiversity and ecosystem functions and services, ecological integrity and connectivity and ensure the persistence of globally significant biodiversity.	Restoration to generate biodiversity benefits within targeted landscapes and seascapes has been primarily at a small-scale level and not geared towards areas of global importance for biodiversity.	This target will be addressed by Action Areas One and Two. Identify and begin restoration of national-level priority areas at national level to enhance biodiversity and ecosystem functions and services and ensure the persistence of globally significant biodiversity.
Target 3	Supported with need for scaling up.	Expand conserved areas and enhance effective management to achieve national goals including associated financing strategies. Additional support to IPLC-led stewardship and governance (This support would not be exclusive to only conservation-focused strategies but include sustainable use of biodiversity and likely contribute to other Targets of the GBF.).	Focus on effective management of protected areas (PAs) within targeted landscapes/seascapes. However, investment in PA expansion and in sustainable financing mechanisms has been limited and inadequate to address the current needs and opportunities.	This target will be addressed by Action Areas One and Two. Scale up support to expand conserved areas and enhance effective management to achieve national goals vis a vis Target 3 including OECMs and associated PA financing strategies. Additional support to IPLC-led stewardship and governance.
Target 4				Given that the Action Areas of the GBF Fund Programming Directions collectively contribute to the implementation of the area and policy-based targets, they will all contribute to progress on Target 4 Halt human-induced extinctions and maintain and restore genetic diversity, Goal A: and by 2050 reduce tenfold the extinction risk and rate of all species
Target 5	Supported with need for scaling up.	Establish enabling policy and legal frameworks for sustainable use, analytical support for policy development on legal aspects of trade of wild species including the development and implementation of national policies, measures and actions aimed at mapping and promoting sustainable biodiversity-based activities.	Sustainable use of: (a) wild and native species from terrestrial, freshwater, and marine ecosystems; and (b) agrobiodiversity including protection of Crop Wild Relatives (CWR) in-situ through CWR Reserves within integrated landscape/seascape management interventions. Support to countries that cooperate in the sustainable management of freshwater and marine fisheries and aquaculture within and beyond maritime areas of national jurisdiction, including promotion of joint-management policy frameworks, market mechanisms, and ecosystem-based management approaches.	This target will be addressed by Action Area Five. Establishment of enabling policy and legal frameworks for sustainable use including the development and implementation of national policies, measures and actions aimed at mapping and promoting sustainable biodiversity-based activities. Include analytical support for policy development on legal aspects of trade of wild species.
Target 6	Well supported with need for scaling up.	Expand support to all countries for implementation of comprehensive IAS management frameworks, beyond the current focus on islands.	Support to this target has prioritized island ecosystems given that IAS are one of the largest threats to island biodiversity.	This target will be addressed by Action Area Seven. Expand support to all countries for implementation of comprehensive prevention, early detection, control, and management frameworks that emphasize a risk management approach.
Target 7	Partially supported with need for scaling up.	Address and reduce pollution risks to levels that are not harmful to biodiversity and ecosystem functions and services including support to national policy development.	Improving and changing production practices to be more sustainable in agriculture, aquaculture, fisheries and forestry within integrated landscape/seascape interventions. Supporting countries with shared freshwater and marine ecosystems to reduce point and non-point sources pollution and hypoxia, through cooperative legal and institutional frameworks, market incentives, and sustainable management. Support to eliminate hazardous pesticides from agriculture.	This target will be addressed by Action Area Six. Address and reduce pollution risks to levels that are not harmful to biodiversity and ecosystem functions and services, including support to national policy development.
Target 8				Given that the Action Areas of the GBF Fund Programming Directions collectively contribute to the implementation of the area and policy-based targets, they will all contribute to progress on Target 8 (Minimize the impacts of climate change and ocean acidification on biodiversity)
Target 9	Supported with need for scaling up.	Sustainable use approaches that expand beyond landscape/seascape focused interventions including filling national policy, legal, regulation, enforcement, or institutional gaps. Additional support to implementation of eligible elements of the Global Plan of Action on Sustainable Customary Use. Support the development and implementation of sustainable biodiversity-based products, services and activities that enhance biodiversity, to generate social, economic, and environmental benefits.	Sustainable use of: (a) wild and native species from terrestrial, freshwater, and marine ecosystems; and (b) agrobiodiversity including protection of Crop Wild Relatives (CWR) in-situ through CWR Reserves within integrated landscape/seascape management interventions.	This target will be addressed by Action Area Five. Scale up sustainable use approaches beyond one targeted landscape/seascape including filling policy, legal, regulation, enforcement or institutional gaps. Additional support to implementation of eligible elements of the Global Plan of Action on Sustainable Customary Use. Support the development and implementation of sustainable biodiversity-based products, services and activities that enhance biodiversity, to generate social, economic and environmental benefits.
Target 10	Well supported at landscape/seascape scale and producer unit level.	Scale up sustainable use of biodiversity and biodiversity mainstreaming in production practices to sector scale.	Improving and changing production practices to be more sustainable in agriculture, aquaculture, fisheries and forestry at producer unit and at landscape/seascape scale.	This target will be addressed by Action Area Six. Scale up sustainable use of biodiversity and biodiversity mainstreaming in production practices to sector scale.
Target 11				The area-based conservation/sustainable use targets are supported by Action Areas focused on conservation and sustainable use, alignment of policies supporting biodiversity conservation and sustainable use, and resource mobilization strategies thus the enhanced investment provided by the GBF Fund has a high potential of generating positive biodiversity outcomes at scale. Collectively these Action Areas will contribute to the achievement of Target 11 (Restore and enhance ecosystem function) given that these investments are applying an ecosystem approach and nature-based solutions
Target 12				Target 12 (Increase the area and quality of urban green and blue spaces) was assessed as having limited potential to generate global environmental benefits even though its achievement will potentially generate significant local environmental and development benefits. Therefore, it does not require specific GBF Fund support.
Target 13	Supported with need for scaling up.	Scale up existing capacity building support.	Capacity building support for implementation of the Nagoya Protocol.	This target will be addressed by Action Area Eight. Complement existing support.
Target 14	Supported with need for scaling up.	Develop and implement national (or regional as appropriate) policy and regulatory frameworks that integrate biodiversity considerations into sectors that impact biodiversity and promote practices for sustainable land/sea and resource use practices that generate benefits for biodiversity conservation and sustainable use.	Limited investment that supports a comprehensive policy change process to integrate biodiversity into policy and development.	This target will be addressed by Action Area Three. Develop and implement national (or regional as appropriate) policy and regulatory frameworks that integrate biodiversity considerations into sectors that impact biodiversity and promote practices for sustainable land, sea, and resource use practices that generate benefits for biodiversity conservation and sustainable use.
Target 15	No support being provided.	Policy analysis and research for governments to require large and transnational companies and financial institutions to monitor, assess and disclose their risks, dependencies and impacts on biodiversity.	No support being provided for governments to take the legal, administrative or policy measures to encourage, enable or ensure that business and financial institutions monitor, assess, and disclose impacts on biodiversity.	This target will be addressed by Action Area Three. Support to further policy analysis and research for governments to undertake the necessary legal, administrative and policy measures needed to enable progress on Target 15, including measures to effectively require all large and transnational companies and financial institutions to monitor, assess, and disclose their risks, dependencies, and impacts on biodiversity along their operations, supply and value chains, and portfolios
Target 16				The implementation of Target 16 (Encourage sustainable consumption and reduce the global footprint of consumption in an equitable manner) in most GEF recipient countries would have limited potential to generate global environmental benefits. Therefore, it does not require specific GBF Fund support
Target 17	Supported with need for scaling up.	Scale up existing capacity building support	Capacity building support for implementation of the Capacity-building Action Plan for the Cartagena Protocol.	This target will be addressed by Action Area Eight. Complement existing support.
Target 18	No targeted support on elimination, phase out or reform of subsidies.	Policy analysis and research to develop new policies, legislation and strategies to eliminate, phase out, or reform incentives including subsidies harmful to biodiversity.	Support to biodiversity finance plans and development of NBSAPs will identify harmful subsidies at national level.	This target will be addressed by Action Areas Three and Four. Support to further policy analysis and research to develop new policies, legislation, and strategies to eliminate, phase out, or reform incentives including subsidies harmful to biodiversity
Target 19	Supported with need for scaling up.	Implementation of all eligible financial mechanisms identified in the national biodiversity finance plans, NBSAPs, targeted support for Conservation Trust Funds, and a blended finance program.	Support is provided to the development of biodiversity finance plans and countries can use their STAR allocation to implement a select number of financial mechanisms. There is increasing demand for blended finance. Recent trends in the GEF TF show that demand largely exceeds availability of financing through the Blended Finance window. Biodiversity-related projects compete with other focal areas, where blended finance models are more mature and more prone to attract private sector investment.	This target will be addressed by Action Area Four Additional funding will allow for the implementation of all financial mechanisms identified in the biodiversity financial plans and NBSAPs. Concentrated support for Conservation Trust Funds as a financial mechanism. Blended finance program dedicated to biodiversity to expand and catalyze private sector investment aligned with the GBF.
Target 20				The achievement of Targets 20 (capacity building) is integral to the success of the GBF and, therefore, will be supported in relevant projects that require these kinds of investments to achieve higher level project goals and objectives. In many ways, these targets serve as inputs to the achievement of other GBF targets. GEF TF experience has shown that advancing sustainable progress on these targets is best approached by embedding relevant capacity building and information management activities into project design including strengthening the role of science and technology innovation for biodiversity conservation and sustainable use
Target 21				The achievement of 21 (data/information/knowledge management) is integral to the success of the GBF and, therefore, will be supported in relevant projects that require these kinds of investments to achieve higher level project goals and objectives. In many ways, these targets serve as inputs to the achievement of other GBF targets. GEF TF experience has shown that advancing sustainable progress on these targets is best approached by embedding relevant capacity building and information management activities into project design including strengthening the role of science and technology innovation for biodiversity conservation and sustainable use
Target 22	Supported partially with need for scaling up.	Embedded in all project operations supported by the GBF Fund and additional support to IPLC-led stewardship and governance. (This support would not be exclusive to only conservation-focused strategies but include sustainable use of biodiversity and likely contribute to other Targets of the GBF.)	GEF policy framework applies to all GEF programs/projects to ensure participation of IPLCs in GEF projects. Inclusive Conservation Initiative in GEF-7 and GEF-8 is providing limited resources to IPLCs.	This target will be addressed by Action Area Two. Additional support to IPLC-led stewardship and governance. Target 22 refers to the way the GBF is implemented at national level focusing on equitable, inclusive, and gender-responsive approaches to participation. GEF’s policy framework on IPLCs (GEF, 2012, Principles and Guidelines for Engagement with Indigenous Peoples)(GEF, 2019, Policy on Environmental and Social Safeguards, GEF Policy: SD/PL/03 ensures that all GEF investments under the GBF Fund will be contributing to these targets and will report annually on their results of doing so. A concerted effort will be made to also include participation by youth and other stakeholders identified in Target 22 as relevant to the project design.
Target 23				Target 23 refers to the way the GBF is implemented at national level focusing on gender equality. GEF, 2018, Policy on Gender Equality, GEF Policy: SD/PL/02 ensures that all GEF investments under the GBF Fund will be contributing to the target and will report annually on their results of doing so.