During the Global Environment Facility (GEF)’s Seventh Assembly, held in Vancouver (Canada), the Governments of Canada and the United Kingdom agreed to make an initial contribution of 160 million dollars to capitalize the new Global Biodiversity Framework Fund (GBFF), which will finance projects for the conservation of biodiversity in developing countries, including Chile among others.

The capitalization of this Fund is a direct result of the Kunming-Montreal Global Biodiversity Framework (GBF), with four goals for 2050 and 23 targets for 2030, signed by more than 190 countries at the last United Nations Conference on Biological Diversity (COP15) in Montreal, held in December 2022.

The Assembly also agreed to allocate 20% of the Fund’s resources to projects that support Indigenous-led initiatives, highlighting the importance of their ancestral knowledge in the protection and conservation of biodiversity.