A/HRC/54/31 on Indigenous territories.68 In Malaysia, the national guidance on voluntary carbon market mechanisms requires carbon projects to be conducted in conformity with national regulations on the participation of Indigenous Peoples. 69 In Argentina, REDD-plus initiatives are implemented with the participation and respect for the knowledge and rights of Indigenous Peoples.70 54. In some cases, Indigenous Peoples participate in the voluntary carbon market to strengthen their autonomy and collective rights. The Yurok Tribe in the United States has used the profits from forest offset projects to pay back a loan taken to buy a part of their ancestral territory, support youth programming, housing and road improvement, and help develop off-reservation businesses.71 In Mexico, the Indigenous municipality of Capulálpam de Mendez joined the carbon offset market in 2008, using the profits for forestry work, education and athletic programmes.72 In the United Republic of Tanzania, the Yaeda-Eyasi Landscape REDD project strengthened land tenure, management capacity and local natural resource management in Hadza hunter-gatherer and Tatoga pastoralist communities.73 C. Biodiversity protection and conservation 55. Funding for the creation of protected areas for biodiversity protection is set to increase significantly with the implementation of global biodiversity target 3 of the Convention on Biological Diversity, according to which at least 30 per cent of terrestrial and inland water areas and marine and coastal areas are to be effectively conserved before 2030. Given that 80 per cent of the world’s remaining biodiversity lies within Indigenous lands, this target will have a significant impact on Indigenous Peoples. With the creation of a new global biodiversity framework fund, 74 large conservation organizations will have even greater influence and financial power, as they receive investment and tax breaks from Governments, corporations and other transnational organizations. Conservation organizations have long been heralded as champions of biodiversity protection and climate change efforts, but in recent years have come under scrutiny for increasing reports of human rights violations, including the violent evictions of Indigenous Peoples from their lands. A more detailed explanation is provided in the Special Rapporteur’s report to the General Assembly in 2022.75 56. The Global Biodiversity Framework also includes a commitment by States to encourage and enable businesses, transnational corporations and financial institutions to “monitor, assess and transparently disclose their risks, dependencies and impacts on biodiversity”, along with their operations, supply and value chains and portfolios, to provide information to consumers to promote sustainable consumption and to report on compliance with access and benefit-sharing regulations and measures (target 15). While target 15 identifies the important need for disclosure, risk assessment and benefit-sharing, it is only a voluntary measure and does not mandate the regulation of private sector investors. 57. Target 18 of the Framework establishes an expedited time frame to phase out subsidies harmful for biodiversity by 2025, reducing them by at least $500 billion per annum by 2030, while scaling up positive incentives for conservation and sustainable use. Target 19 calls for an increase in funding in an “effective, timely and easily accessible manner, including domestic, international public and private resources” of at least $200 billion per annum and for enhancing the role of Indigenous Peoples in natural resource management aimed at the conservation of biodiversity. 68 69 70 71 72 73 74 75 14 See submission by Canada. See submission by Malaysia. See submission by Argentina. See https://www.yesmagazine.org/environment/2021/04/19/california-carbon-offset-program-yuroktribe-land-back. See https://www.context.news/nature/custodians-of-mexicos-indigenous-forests-confront-climatechange. See submission by Amazon Watch. See https://www.thegef.org/newsroom/news/statement-gef-ceo-and-chairperson-creation-globalbiodiversity-framework-fund. A/77/238. GE.23-13366