Negotiators reached a historic deal at a UN biodiversity conference early on Monday that represents the most significant effort to protect the world’s lands and oceans and provides critical financing to save biodiversity in the developing world.
The most significant part of the agreement is a commitment to protect 30 per cent of land and water considered important for biodiversity by 2030, known as 30 by 30. Currently, 17 per cent of terrestrial and 10 per cent of marine areas are protected. Financing emerged late in the talks and risked derailing an agreement. Several African countries held up the final deal for almost nine hours. They wanted the creation of a new fund for biodiversity but agreed to the creation of one under the pre-existing Global Environmental Facility.
Then as the agreement was about to be adopted, Congo stood up and said it opposed the deal because it didn’t set up that special biodiversity fund to provide developing countries with $100 billion by 2030.