The Kunming Biodiversity Fund (KBF) is a global financial mechanism dedicated to supporting biodiversity conservation, especially in developing countries. Here is an explanation of the fund in key points:
- Launched in 2021 during Part 1 of COP-15 in Kunming, China, under China’s presidency of the UN Convention on Biological Diversity (CBD).
- The main objective is to assist developing countries in implementing the Kunming–Montreal Global Biodiversity Framework (KMGBF), which sets global targets to halt biodiversity loss by 2030 and restore ecosystems by 2050.
- China provided an initial seed contribution of 1.5 billion yuan (approximately USD 200 million).
- The fund operates as a Multi-Partner Trust Fund (MPTF), managed by China’s Ministry of Ecology & Environment, UN Environment Programme (UNEP), the CBD Secretariat, and the United Nations Development Programme (UNDP).
- It supports developing countries, particularly focusing on National Biodiversity Strategies and Action Plans (NBSAPs), ecosystem restoration, invasive species control, and sustainable agriculture.
- Recently, $5.8 million in grants was awarded to seven countries (Cook Islands, Madagascar, Mexico, Nepal, Sri Lanka, Turkey, and Uganda) to promote nature-friendly agriculture and biodiversity integration.
- The Independent Technical Advisory Group (ITAG) provides technical and scientific guidance for the fund, focusing on monitoring, implementation, knowledge management, and best practices.
- KBF aligns with the biodiversity finance target of mobilizing at least $200 billion per year globally for conservation efforts by 2030 and closing the estimated $700 billion per year biodiversity finance gap.
- The fund is critical in helping countries meet the global biodiversity targets set under the Kunming-Montreal Global Biodiversity Framework, including restoring degraded ecosystems, reducing invasive species, and increasing agroecological practices.
- Projects funded by the KBF often emphasize community engagement, indigenous peoples’ roles, and sustainable, biodiversity-positive development pathways.
Why in News
- The Kunming Biodiversity Fund (KBF) is in the news recently because it approved $5.8 million in funding for projects led by the Food and Agriculture Organization (FAO) in seven countries: Cook Islands, Madagascar, Mexico, Nepal, Sri Lanka, Turkey, and Uganda.
- This funding aims to mainstream biodiversity into agrifood systems and promote nature-friendly agriculture, supporting the goals of the Kunming-Montreal Global Biodiversity Framework (KMGBF).
- The projects target sustainable agriculture practices, ecosystem protection, invasive species control, and local community engagement, including Indigenous peoples’ involvement in biodiversity management.
- This new funding is a significant step in accelerating efforts to halt biodiversity loss and promote sustainable development in biodiversity-rich developing countries.