UN Secretary-General Antonio Guterres urged nations attending a biodiversity summit in Cali, Colombia, on Sunday to commit to significant investment in the Global Biodiversity Framework Fund (GBFF) aimed at conserving and restoring nature.
In a video message delivered to delegates at the COP16 biodiversity conference, which officially begins on Monday, Guterres stated, “We must leave Cali with significant investment in the Global Biodiversity Framework Fund (GBFF), and commitments to mobilize other sources of public and private finance.”
The GBFF was established last year to support countries in meeting the goals of the Kunming-Montreal Global Biodiversity Framework, adopted in Canada in 2022. This framework includes 23 targets aimed at halting and reversing the loss of biodiversity by 2030.
To date, countries have pledged around $250 million to the fund, according to various monitoring agencies. This fund is part of a larger commitment made two years ago, wherein countries agreed to mobilize at least $200 billion annually by 2030 for biodiversity. This includes a target of $20 billion per year from wealthy nations to support developing countries by 2025.
Guterres warned that the destruction of nature exacerbates conflicts over resources, increases hunger and disease, and drives poverty, ultimately leading to a decline in GDP. He highlighted the economic risks, noting that a collapse of essential ecosystem services, such as pollination and clean water, could cost the global economy trillions of dollars annually, with the most vulnerable populations suffering the most.