UN Convention on Biological Diversity (CBD)

Why in News?

Recently, the COP 15 of the UN Convention on Biological Diversity (CBD) held under the Chinese presidency has adopted the ‘Kunming-Montreal Global Biodiversity Framework’ (GBF).

The GBF has adopted 4 overarching goals and 23 targets and will replace the erstwhile Aichi Targets.
The 4 Goals are-
- Restore the decline of biodiversity by 2050.
- Adequate financial resources, progressively closing the biodiversity finance gap of $700 billion per year.
- Protection of traditional knowledge associated with genetic resources.
- Increasing the area of natural ecosystems and the extinction rate and risk of all species are reduced tenfold.
Among the 23 targets few notables are-
- To protect 30% of land and 30% of coastal and marine areas by 2030 known as 30-by-30.
- Mobilizing at least $200 billion annually for biodiversity related funding.
- Halving global food waste.
- Raising international financial flows from developed to developing countries to at least US$ 30 billion per year.

A multilateral treaty informally called the Biodiversity Convention Headquartered in Montreal, Canada.
Opened for signing in the Earth Summit (1992) and entered into force in 1993. It has been ratified by 196 nations, the US has not ratified the convention.
Two supplementary agreements to CBD are-
- The Cartagena Protocol on Biosafety.
- The Nagoya Protocol on Access to Genetic Resources and the Fair and Equitable Sharing of Benefits Arising from their Utilization (ABS).