UN Biodiversity Summit Halts Without Funding

AFP/APP

Cali, Colombia: The 16th Conference of Parties (COP16) to the UN’s Convention on Biological Diversity (CBD) concluded in Colombia on Saturday without reaching an agreement on crucial funding for biodiversity conservation.

 The summit, attended by over 23,000 delegates, was suspended by its president, Susana Muhamad, after prolonged negotiations failed to establish a comprehensive financial roadmap.

Despite other progress, discussions broke down over a funding mechanism to meet the goals set in Canada in 2022, including protecting 30 percent of land and sea and restoring degraded ecosystems by 2030.

A proposal to create a dedicated biodiversity fund, backed by developing nations, was rejected by the European Union, Switzerland, and Japan.

As the largest nature conservation conference, COP16 highlighted persistent financial divides between developed and developing countries, signaling potential challenges for future environmental negotiations.