The new Global Environment Facility (GEF) fund aims to help developing countries to ratify and implement the Nagoya Protocol on Access to Genetic Resources and the Fair and Equitable Sharing of Benefits Arising from their Utilization (ABS) to the Convention on Biological Diversity (CBD).
June 2011: Following the decisions of the 40th meeting of the Global Environment Facility (GEF) Council, the GEF will operate a new fund to help developing countries to ratify and implement the Nagoya Protocol on Access to Genetic Resources and the Fair and Equitable Sharing of Benefits Arising from their Utilization (ABS) to the Convention on Biological Diversity (CBD).
On 26 May 2011, the GEF Council approved the role of the CBD Secretariat as the operator of the fund. The Government of Japan reaffirmed its contribution of 1 billion Yen, while the Government of France declared its financial support of EUR1 million. The Governments of Norway and Switzerland indicated they would make additional contributions.
The fund is designed to support countries to build enabling activities to ratify the Protocol, as well as to finance projects at national and regional levels to promote technology transfer, private sector engagement, and the conservation and sustainable use of genetic resources. The fund also will help CBD parties build capacity to ensure appropriate access and use of traditional knowledge associated with genetic resources.
Resources also will be used to heighten awareness of the Protocol, including through the use of new knowledge management tools. [GEF and CBD Press Release] [IISD RS coverage of the 40th meeting of the GEF Council]