Germany increases its international biodiversity fund to 1.5 euro

New York: Germany has increased its international biodiversity fund to 1.5 Euro per year to protest the biodiversity of at least 30 percent of land and ocean globally.

It is an increase of €0.87 billion from the German government’s average funding between 2016-2020, representing the highest total international yearly financial commitment so far.

The decision was taken on the sideline of the UN General Assembly to showcase action and support for a “nature-positive” world.

The fund will be utilized on a 10 points plan for financing biodiversity initiative around the world endorsed by 16 initial countries.

Speaking over the inititaive, German Chancellor Olaf Scholz said, “The UN Biodiversity Conference in December needs to be a turning point for our conservation efforts. Germany resolutely supports the idea of an ambitious global framework on biodiversity. Such a framework needs a strong implementation mechanism that sets us on a path to saving and restoring our ecosystems.

“Protecting at least 30 percent of our land and oceans plays a crucial role in this. At the G7 Summit in Germany, we agreed to substantially increase funding for nature by 2025. Germany is doing its part and will continue to do so” he added.

The German Chancellor said, “as part of our commitment to an international climate finance budget of €6 billion annually by 2025 at the latest, we will increase our biodiversity funding massively to €1.5 billion per year. With this contribution, we want to send a strong signal for an ambitious outcome of the biodiversity COP15.”

Attending leaders reaffirmed their commitment to reverse biodiversity loss and secure a nature-positive world by 2030, including through adopting a transformative biodiversity agreement at COP15 in Montreal.

Leaders also  reaffirmed their commitments to protect and conserve at least 30% of land and ocean by 2030, transform production and consumption to be well within planetary boundaries, and ensure an equitable transition to nature-positive economies.

Canadian Prime Minister Justin Trudeau said: “Canada stepped up to host COP15 the Nature COP  in Montreal this December because we know what’s at stake – healthy land and waters, strong economies, and a bright future for generations to come.

“At home, Canada is making historic progress to reach our commitment to protect 30% of our land and 30% of our oceans by 2030” he said.

Costa Rican President Rodrigo Chaves Robles said: ”For the last three years Costa Rica has championed the critical global goal to protect at least 30% of our planet’s land and ocean by 2030 through the High Ambition Coalition for Nature and People and its 103 members.

Prime Minister of Bhutan Dr. Lotay Tshering said: “World leaders are today collectively saying action on nature cannot wait. Bhutan is blessed with rich biodiversity and natural heritage.

Unveiled by the governments of Ecuador, Gabon, the Maldives and the United Kingdom, the Political Vision: The 10 Point Plan for Financing Biodiversity aims to provide a comprehensive way forward for governments and the finance sector to ensure we invest in protecting nature, rather than destroy it.

The increase and mobilization of new, additional, and timely resources from all sources, is essential to fulfill the commitments under the Convention on Biological Diversity and the Post 2020 Global Biodiversity Framework that will be adopted in December at COP15 in Montreal.

The event also saw the endorsement of the Leaders’ Pledge for Nature by Australian Prime Minister Anthony Albanese, committing Australia to reversing biodiversity loss by 2030.

Commenting on leaders’ statements, Marco Lambertini, Director General of WWF International, said: “The new biodiversity finance and conservation initiatives announced today provide critical momentum ahead of the COP15 biodiversity conference in December.