COP16 Biodiversity Talks Conclude Without Agreement on New Fund for Nature Protection

The 16th UN biodiversity conference in Cali, Colombia, concluded without reaching a consensus on establishing a new fund for nature conservation. Despite running 12 hours past its scheduled end, the conference did achieve an agreement to form a subsidiary body that will involve indigenous peoples in future biodiversity discussions and decisions. Additionally, countries agreed to create a global fund to share benefits from digitally-sequenced genetic data with the communities of origin.

Global Fund for Genetic Data

A significant outcome was the agreement to establish a global fund. This fund aims to distribute benefits from genetic data derived from plants and animals back to their original communities. However, as the final session extended into Saturday morning, many negotiators left to catch flights home. This led Colombian Environment Minister and COP16 President Susana Muhamad to suspend the session due to insufficient quorum.

Funding Disparities

The conference highlighted a clear divide between wealthier and developing nations regarding funding. Wealthier countries were reluctant to increase financial support, while developing nations stressed their inability to enhance efforts without additional funds. The Kunming-Montreal Global Biodiversity Framework (KM-GBF), adopted in 2022, set ambitious targets for 2030, including protecting 30% of land and sea areas and restoring 30% of degraded ecosystems.

Financial Commitments

At the Canada summit, countries committed USD 200 billion annually for biodiversity protection by 2030. This included USD 30 billion per year from developed to developing countries. However, only about USD 15 billion was available in 2022, according to the Organisation for Economic Cooperation and Development. Approximately USD 400 million has been pledged to the Global Biodiversity Framework Fund (GBFF) under the Global Environment Facility.

Proposals for New Funds

Developing nations proposed creating a dedicated fund for nature, arguing that wealthy countries hold significant influence over existing funds like the GEF. However, countries such as Canada, Japan, New Zealand, Australia, and EU members opposed this proposal. Several mega-diverse countries, including India, Peru, and Thailand, submitted action plans for biodiversity protection at the conference.

Voices of Indigenous Peoples

Patricia Zurita of Conservation International expressed concern over the lack of financial compromise in Cali. She stated that nature is at risk without strong financial agreements. However, she acknowledged progress in elevating indigenous voices in the Global Biodiversity Framework process. Crystal Davis from the World Resources Institute noted that negotiations concluded with cautious progress in safeguarding nature.

Davis highlighted that developing countries now have access to a new fund encouraging companies to contribute for using digitally-stored genetic resources in medicines and cosmetics. Although contributions are voluntary, companies must demonstrate impact. The new permanent body involving indigenous peoples gives them formal decision-making power as stewards of biodiverse ecosystems.

While some progress was made at COP16, challenges remain in securing adequate funding and commitment from all nations. The session's suspension leaves uncertainty about when or where discussions will resume. Nonetheless, involving indigenous peoples more formally marks a crucial step forward in biodiversity conservation efforts worldwide.