Global Biodiversity Framework

In News: Over 190 nations adopt landmark biodiversity pact to restore natural ecosystems

Aim:

• 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

Source: Newsonair