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    Home » UN talks on saving nature stumble on finance hurdle

    UN talks on saving nature stumble on finance hurdle

    Team_NationalNewsBriefBy Team_NationalNewsBriefNovember 2, 2024 Trending News No Comments2 Mins Read
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    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.

    With other successes under its belt, the 16th Conference of Parties (COP16) to the UN’s Convention on Biological Diversity (CBD) was suspended by its president Susana Muhamad as negotiations ran almost 12 hours longer than planned and delegates started leaving to catch flights.

    The exodus left the summit without a quorum for decision-making, but CBD spokesman David Ainsworth told AFP it will resume at a later date to consider outstanding issues.

    “We will continue working because this crisis is too big and we cannot stop,” Muhamad told AFP after declaring the Cali COP closed.

    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.

    They include placing 30 per cent of land and sea areas under protection and 30 percent of degraded ecosystems under restoration by 2030, reducing pollution, and phasing out agricultural and other subsidies harmful to nature.

    For this purpose, it was agreed in 2022 that US$200 billion per year be made available to protect biodiversity by 2030, including the transfer of US$30 billion per year from rich to poor nations.



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