Source · Select Committees · Environmental Audit Committee
Recommendation 28
28
Paragraph: 133
The global biodiversity funding gap is huge.
Conclusion
The global biodiversity funding gap is huge. It cannot be tackled with contributions from the Global Environment Facility alone. A dedicated financial mechanism for biodiversity action, as has already been set out and agreed by Parties under the CBD, is essential. We welcome the UK’s commitment to spend £3 billion of its International Climate Finance allocation to support nature-based solutions to climate change.
Paragraph Reference:
133
Government Response
Not Addressed
HM Government
Not Addressed
In recognition of this, in 2021 the Prime Minister committed to spending at least £3 billion of the UK’s International Climate Finance (ICF) over the following five years on climate change solutions that protect and restore nature and biodiversity. Part 2 of COP15 is scheduled to take place from 25 April to 9 May 2022 and the UK will continue to develop our approach to implementing our CBD commitments and updating our plans and strategies, include actions across Government.