The COP16 summit has officially opened in Cali, Colombia, bringing together nearly 200 countries to address the urgent crisis of nature destruction. As the world faces rapid biodiversity loss, UN leaders and national representatives are calling for the mobilization of billions of dollars to meet the ambitious goals set forth in the Kunming-Montreal Global Biodiversity Framework.
\"The planet doesn't have time to lose,\" stated COP16 President Susana Muhamad during the opening ceremony. Highlighting the significant funding gap, Muhamad emphasized that current resources are insufficient to achieve the framework's 23 goals aimed at halting nature loss by 2030.
Two years ago, the landmark agreement outlined the need for $200 billion annually dedicated to conservation efforts. However, the Global Biodiversity Framework Fund, established last year, has only managed to raise millions instead of the billions required. This shortfall has raised concerns among delegates about the feasibility of meeting the set objectives.
In a stern message, UN Secretary General Antonio Guterres criticized the lack of progress, urging delegates to secure substantial new investments by the end of the summit. Brazil's top negotiator, Andre Correa do Lago, echoed these sentiments, warning that the current funding trajectory could jeopardize the framework's success without increasing financial support for developing nations.
Developed countries had previously committed to providing $20 billion annually to developing nations by 2025, up from $15.4 billion in 2022. However, Correa do Lago stressed the importance of bridging the funding gap without exacerbating debt burdens on these nations.
Beyond financial contributions, Muhamad outlined a broad agenda for COP16, including reviewing national biodiversity pledges, enhancing the inclusion of Indigenous communities in conservation decisions, and establishing mechanisms for funding the sharing of genetic material.
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Leaders urge world to pay up to save nature as COP16 talks open
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