In a significant move towards preserving biodiversity, nearly 200 nations gathered in Cali, Colombia, for the UN COP16 nature talks. The summit reached a groundbreaking agreement on how companies in sectors like pharmaceuticals and cosmetics should compensate for using genetic information derived from biodiversity in their research and development processes.
This decision is part of the implementation of the 2022 Kunming-Montreal Global Biodiversity Framework, which aims to arrest the rapid decline of nature by 2030. The agreed payments are projected to generate billions of dollars, which will be funneled into a dedicated conservation fund. Impressively, half of these funds will be allocated directly to Indigenous peoples and local communities, recognizing their pivotal role in safeguarding natural habitats.
Genetic data from nature is integral to a myriad of products, ranging from nutrient-enriched crops to innovative textiles like denim jeans treated with microbial enzymes for unique distressing effects. By formalizing payments for this genetic information, the summit ensures that the natural sources contributing to these products are rightfully compensated.
The agreement also marks progress in social inclusion, with the establishment of a permanent body dedicated to consulting Indigenous and local communities on nature-related decisions. Additionally, the role of Afro-descendant communities in conservation efforts has been formally acknowledged, highlighting a commitment to diverse and inclusive environmental stewardship.
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UN nature summit agrees on payments for use of genetic information
cgtn.com
