Description

Source: DTE

Disclaimer: Copyright infringement not intended.

Context:

A new international fund has been created to help protect biodiversity.
On 25th February 2025 , Cali Fund was launched in Rome during the resumed session of COP 16 of the Convention on Biological Diversity (CBD).
This new fund will receive contributions from the private sector companies that commercially use digital sequence information (DSI) obtained from genetic resources.
It aims to raise funds for global biodiversity conservation.

Do you know ?

●Digital sequence information (DSI) refers to genetic sequence data that is stored or transmitted in digital formats, such as through files or databases.

●This data can represent DNA, RNA, or protein sequences that have been decoded or mapped from biological organisms.

●The information is commonly used in fields such as genomics, bioinformatics, & biotechnology.

Key Objectives of the Cali Fund:

1. Support for Biodiversity:

The Fund will help to achieve the 3 main goals of the CBD
- - Conservation of Biological Diversity
  - Sustainable Use of Biodiversity
  - Fair and Equitable Sharing of Benefits.

2. Private Sector Contributions:

For the 1st time, Companies that benefit from DSI, such as those in the pharmaceuticals, cosmetics, agriculture & biotechnology sectors will deposit a portion of their revenues into this fund.
The fund aims to create a new financial source to support biodiversity conservation.

3. Indigenous Peoples and Local Communities:

50% of the Cali Fund will be allocated to the needs of indigenous peoples and local communities.
This is to recognize their role in biodiversity conservation with a focus on supporting women & youth..

4. Implementation of the Kunming Montreal Global Biodiversity Framework (KMGBF):

The Fund will help to implement the KMGBF.
It is the global plan to stop and reverse biodiversity loss.
It will support the delivery of National Biodiversity Strategies and Action Plans (NBSAPs) in developing countries & it will enhance research on biodiversity.

Institutional Arrangements:

UNDP and UNEP: The Cali Fund will be managed through a partnership between the United Nations Development Programme (UNDP) & the United Nations Environment Programme (UNEP).
Multi-Partner Trust Fund Office (MPTFO): The Fund will be administered by the MPTFO which is responsible for managing pooled funds for development projects.
CBD Secretariat: The CBD Secretariat will host the Cali Fund Secretariat.

Background on the Cali Fund:

The Cali Fund was the part of the Multilateral Mechanism adopted at COP 15 in 2022.
It focuses on ensuring the fair & equitable sharing of benefits from the use of genetic resources.
The Fund is designed to support the Kunming-Montreal Global Biodiversity Framework (KMGBF) adopted in 2022.
This Framework sets 23 targets for 2030 and 4 goals for 2050.

Convention on Biological Diversity (CBD) and Related Protocols

About CBD:

●Established: 1992

●Purpose: The CBD is an international treaty designed to conserve biodiversity, promote the sustainable use of its components.

●It ensure fair sharing of benefits arising from the use of genetic resources.

●Parties: The CBD has 196 Parties (countries).

●Key Focus Areas:

1.Conservation of Biodiversity

2.Sustainable Use of Biodiversity

3.Fair Sharing of Benefits.

The Nagoya Protocol (2014):

●Nagoya Protocol is designed to ensure the fair & equitable sharing of benefits from the use of genetic resources.

●Key Elements:

It establishes a transparent framework for how genetic resources are shared between countries and users.
It aims to ensure that those who provide genetic resources receive fair compensation for their use.

●Parties: it has 141 Parties.

Kunming-Montreal Global Biodiversity Framework (GBF):

●It was adopted At COP 15 in 2022, after 4 years of negotiations & consultations.

●Purpose: The GBF is a global plan for biodiversity, building on previous CBD strategies & supporting the achievement of the Sustainable Development Goals (SDGs).

●Goals:

4 long-term goals for 2050: A world living in harmony with nature.
23 targets for 2030: Specific targets aimed at stopping biodiversity loss & addressing biodiversity degradation.
The GBF is an ambitious way for global biodiversity & it sets measurable targets to track progress.

Source: DTE

Attempt Daily Quiz

PRACTICE QUESTION

Q. Consider the following statements:

The Cali Fund will receive contributions from companies in sectors like pharmaceuticals, cosmetics, and biotechnology that benefit from Digital Sequence Information (DSI).
50% of the Cali Fund will be allocated to support biodiversity conservation in developed countries.
The Cali Fund is designed to support the implementation of the Kunming-Montreal Global Biodiversity Framework (KMGBF).
The Cali Fund will be managed by a partnership between the United Nations Development Programme (UNDP) and the United Nations Environment Programme (UNEP).

Which of the following statements given above is NOT true about the Cali Fund?

(A) 1 only
(B) 2 only
(C) 3 and 4 only
(D) None of the above

Answer: (B)

Explanation:

●Statement 2 is incorrect because 50% of the Cali Fund will be allocated to the needs of indigenous peoples and local communities, not specifically for developed countries.

●The other statements are correct.