AfDB, UNEP Partner On Kunming-Montreal Global Biodiversity Framework In Africa

Posted by Eric Ojo Business News, Featured, Latest Headlines Sunday, July 30th, 2023

(AFRICAN EXAMINER) – The African Development Bank (AfDB) is joining forces with the United Nations Environment Programme (UNEP) to advance implementation of the Kunming-Montreal Global Biodiversity Framework (KMGBF) in Africa.

The framework sets out an ambitious pathway to reach the global vision of a world living in harmony with nature by 2050.

The AfDB and UNEP will partner to establish an Expert Group on Biodiversity Finance, which will provide African countries with knowledge and technical assistance to mobilize greater biodiversity finance for implementation of the framework.

It will also offer policy makers and development partners in Africa a platform to connect, share knowledge, approaches, opportunities, and solutions to mobilize biodiversity finance for, nature-positive development pathways in Africa.

The partnership was announced following the Africa, Caribbean and the Pacific regions Multilateral Environmental Agreements Programme Phase III Sub-Regional Workshop hosted by UN Economic Commission for Africa (UNECA) in Addis-Ababa. The workshop was held from 25 – 28 July.

Notably, it is the result of an intensive and rigorous consultation process led by the AfDB and UNEP to develop the forthcoming Africa Biodiversity Coordination Platform, which will be jointly hosted by both.

The focus will be on achieving Goal D of the Kunming-Montreal Global Biodiversity Framework, which focuses on ensuring adequate financial resources, capacity-building, technical and scientific cooperation, and access to and transfer of technology to fully implement the framework.

Goal D also targets closing an annual gap in biodiversity finance of $700 billion and to align financial flows with the Kunming-Montreal Global Biodiversity Framework and the 2050 Vision for Biodiversity

Acting Director of AfDB’s African Natural Resources Management and Investment Centre, Dr. Vanessa Ushie welcomed the partnership with UNEP.

Dr. Ushie noted that the bank recognizes the importance of biodiversity finance in complementing existing development assistance and climate finance to African countries.

“The magnitude and far-reaching impacts of biodiversity loss in Africa requires innovative financing mechanisms and partnerships that can rapidly scale resource mobilization by public, private and multilateral institutions”, she added.

Similarly, the Head of UNEP Environment Policy Unit, UNEP’s Law Division, Dr. Balakrishna Pisupati said it is heartening to note the leadership role Africa played in finalizing the KMGBF and decisions related to financing and implementation of the same.

“It is now time for action and action that needs to be led from the front by countries in the region. The proposed collaboration between UNEP and the African Development Bank is a great step forward to capacitate the region in becoming self-reliant on issues of financing”, he stressed.

Addressing the triple crises of biodiversity loss, climate change, and pollution is an urgent imperative. To that end, the 15th Conference of the Parties (COP15) to the United Nations Convention on Biological Diversity (CBD) adopted the Kunming-Montreal Global Biodiversity Framework for protecting nature and halting biodiversity loss around the world.

Significant resource mobilization, both in terms of “financing green” (increasing nature-positive flows) and “greening finance” (reducing nature-negative flows), will be central to the success of outcomes of the COP 15 decisions on financing.