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UN talks on saving nature stumble on finance hurdle

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United Nations News

Climate

CALI, COLUMBIA: The world's biggest nature conservation conference closed in Colombia on Saturday (Nov 2) with no agreement on a roadmap to ramp up funding for species protection.

People walk through the Valle del Pacifico event centre, ahead of the 16th United Nations Biodiversity Summit , in Cali, Colombia, on Oct 20, 2024. CALI, COLUMBIA: The world's biggest nature conservation conference closed in Colombia on Saturday with no agreement on a roadmap to ramp up funding for species protection.

The conference, the biggest meeting of its kind yet with around 23,000 registered delegates, was tasked with assessing, and ramping up, progress toward reaching 23 targets set in Canada two years ago to halt humankind's rapacious destruction of nature's bounty by 2030. The biggest ask from the summit - to lay out a detailed funding plan - turned out to be a bridge too far.

The Cali agreement determines that genetic data users whose income exceeds a certain threshold should contribute one percent of profits or 0.1 per cent of revenue to the new fund, potentially worth billions of dollars per year.

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