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Consider the following statements regarding the Global Biodiversity Framework Fund:
  1. It is designed to mobilize investment in the conservation of wild species and ecosystems.
  2. It is managed by the United Nations Environment Programme.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
Consider the following statements regarding the Global Biodiversity Fr...
Recently, experts said that world’s new biodiversity framework fund is without any real financial commitment to meet conservation targets. 
  • Global Biodiversity Framework Fund is created to ramp up investment in nature restoration and renewal.
  • It has been designed to mobilize and accelerate investment in the conservation and sustainability of wild species and ecosystems, whose health is under threat from wildfires, flooding, extreme weather, and human activity including urban sprawl.
  • The fund was established at the 7th Assembly of the Global Environment Facility in Vancouver, Canada.
  • It will help countries achieve the 23 targets set under the Kunming-Montreal Global Biodiversity Framework (KMGBF).
  • The framework was adopted at the 15th Conference of the Parties (COP15) to the UN Convention on Biological Diversity last December.
  • It will be managed by the Global Environment Facility (GEF), will raise funds through private, philanthropic and government investments.
  • This is a departure from GEF, which relied on just 40 donors for finance.
  • It will also have access to funds earmarked for biodiversity conservation under GEF.
  • The facility has a cumulative budget of $5.25 billion for 2022-26, of which 36 per cent is earmarked for biodiversity.
  • The remaining budget is for projects on climate change, pollution, land and ocean health.
  • The GBF Fund Council will be open to representation by the following members,
  • 16 Members from developing countries
  • 14 Members from developed countries
  • 2 Members from the countries of central and eastern Europe and the former Soviet Union.
  • Decisions of the GBF Fund Council are to be taken by consensus, along the lines of the GEF Instrument. 
Hence only statement 1 is correct.
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Most Upvoted Answer
Consider the following statements regarding the Global Biodiversity Fr...
Statement 1: The Global Biodiversity Framework Fund is designed to mobilize investment in the conservation of wild species and ecosystems.
Statement 2: The Global Biodiversity Framework Fund is managed by the United Nations Environment Programme.

The correct answer is Option A: 1 only.

Explanation:
The Global Biodiversity Framework Fund (GBFF) is a financial mechanism that aims to mobilize resources for the conservation and sustainable use of biodiversity. It was established as part of the global efforts to address the ongoing loss of biodiversity and achieve the objectives of the post-2020 Global Biodiversity Framework.

Statement 1: The Global Biodiversity Framework Fund is designed to mobilize investment in the conservation of wild species and ecosystems.
This statement is correct. The GBFF is specifically designed to mobilize financial resources from public and private sources to support the conservation and sustainable use of biodiversity. It aims to attract investments and funding for projects that contribute to the conservation of wild species and ecosystems, including protected areas, wildlife corridors, and restoration initiatives.

Statement 2: The Global Biodiversity Framework Fund is managed by the United Nations Environment Programme.
This statement is incorrect. The GBFF is not managed by the United Nations Environment Programme (UNEP). It is a separate financial mechanism established under the Global Biodiversity Framework, which is managed by the Convention on Biological Diversity (CBD). The CBD is an international treaty that aims to promote the conservation and sustainable use of biodiversity and ensure the fair and equitable sharing of its benefits.

In conclusion, only Statement 1 is correct. The Global Biodiversity Framework Fund is designed to mobilize investment in the conservation of wild species and ecosystems, but it is not managed by the United Nations Environment Programme.
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Consider the following statements regarding the Global Biodiversity Framework Fund: It is designed to mobilize investment in the conservation of wild species and ecosystems. It is managed by the United Nations Environment Programme.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?
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