china-launches-biodiversity-fund

Context: China pledged to inject $233 million into a new fund to protect biodiversity in developing countries during a key UN conservation summit, despite disagreements among major donors on the initiative.

Background

  • Beijing (the world’s biggest polluter) has sought to play a more prominent role internationally on biodiversity conservation in recent years.
  • Its pledge came as delegates from about 195 countries gathered in the southern Chinese city of Kunming for the first of a two-part summit on safeguarding plants, animals and ecosystems.
  • The summit aims to establish a new accord setting out targets for 2030 and 2050. 
  • According to China, it will take the lead in establishing the Kunming biodiversity fund with a capital contribution of 1.5 billion yuan ($233 million) to support the cause of biodiversity conservation in developing countries.

‘30 by 30’ agenda

  • A key proposal being debated at the conference is the “30 by 30” agenda that would afford 30% of the Earth’s land and oceans protected status by 2030.
  • Global spending to protect and restore nature needs to triple this decade to about $350 billion annually by 2030 and $536 billion by 2050 to meet this target, a UN report said in May.
  • But some rich country donors say a new fund for conservation is unnecessary because the United Nations’ Global Environment Facility already helps developing nations finance green projects.

Related Facts

Convention on Biological Diversity (CBD)

  • The Convention on Biological Diversity (CBD), entered into force on 29 December, 1993. It is a legally binding treaty to conserve biodiversity and has 3 main objectives:
    • The conservation of biological diversity.
    • The sustainable use of the components of biological diversity.
    • The fair and equitable sharing of the benefits arising out of the utilization of genetic resources.
  • The CBD Secretariat is based in Montreal, Canada and it operates under the United Nations Environment Programme(UNEP).
  • The Parties or Countries under Convention of Biodiversity (CBD), meet at regular intervals and these meetings are called Conference of Parties (COP).
  • The convention has been ratified by nearly all countries, except the US. (signed but not ratified).
  • The first UN Biodiversity Summit 2020 was convened in the UN Headquarters. The Biodiversity Summit was participated by the Head of States/Minister level representing the countries which are party to Convention on Biological Diversity (CBD).
    • The Summit focused on the theme, ‘Urgent Action on Biodiversity for Sustainable Development.’
    • As the world is approaching the end of the UN Decade on Biodiversity 2011-2020 there is an urgent need to accelerate action to conserve biodiversity.
    • The year 2020 which is also the “Super Year for Biodiversity”, as the Strategic Plan for Biodiversity with 20 global Aichi targets adopted in 2010 ends in 2020.
    • All the countries together are in the process of preparation of the Post-2020 Global Biodiversity Framework.

Read More about the First UN Biodiversity Summit and Aichi Targets

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