In News: Over 190 nations adopt landmark biodiversity pact to restore natural ecosystems
- To restore natural ecosystems.
- countries agreed to protect 30 percent of the planet by 2030.
- Reducing pesticides use by half
- Raising annual international financial flows from developed to developing countries to at least 20 billion dollars by 2025, and to at least 30 billion dollars by 2030.
- To reduce harmful government subsidies worth 500 billion dollars annually, while vowing to identify subsidies that are harmful to biodiversity by 2025.
About Global Biodiversity Framework (GBF):
- Established at the UN Biodiversity Conference, COP15 in Montreal
- GBF is considered equivalent to the Paris Agreement on climate change in terms of its significance for protecting biodiversity.
- The countries pledged to achieve 23 targets to reverse ecosystem degradation under four overarching goals for the survival of the natural world.
Significance for India:
- The biodiversity plan gives India legroom on continuing farm subsidies and pesticide use.
- This has been a priority for India, which has been voluntarily pitching for natural farming in a big way