Countries are intensifying efforts to secure $200 billion annually for biodiversity protection, with global leaders gathering in Rome to advance funding discussions. The negotiations aim to strengthen the Kunming-Montreal Global Biodiversity Framework, a global pact designed to halt nature loss by 2030. The urgency of these discussions is highlighted by WWF’s alarming findings that vertebrate wildlife populations have plummeted by 73% since 1970. 

A key topic on the agenda is the Cali Fund, established last October to collect contributions from companies profiting from nature’s genetic resources. However, financial pledges have fallen drastically short of expectations, raising concerns about the feasibility of meeting the ambitious biodiversity targets. The initial goal was to raise $30 billion per year, but current contributions have barely reached $163 million. 

The funding debate also revolves around broader financial mechanisms, with discussions focusing on redirecting $500 billion in subsidies that harm biodiversity into conservation efforts. Negotiators are exploring alternative financing sources, including development bank loans, domestic government resources, and private sector investments. However, disagreements persist over fund management. The European Union supports using the Global Environment Facility (GEF) to oversee contributions, while countries like Brazil and the Democratic Republic of Congo are advocating for a new, more inclusive financial system. 

The negotiations are further complicated by shifting U.S. policies. The United States, under new political leadership, has scaled back formal engagement in global biodiversity funding efforts, casting doubt on the long-term commitment of major economies to support nature-based solutions. 

Despite these challenges, the Rome talks are expected to solidify commitments to biodiversity financing, with the official launch of the Cali Fund on the agenda. Observers stress the need for transparency and ambitious commitments to ensure meaningful progress in global conservation efforts. 

Sources: 

https://esgnews.com/countries-renew-efforts-to-secure-200-billion-annually-for-biodiversity-amid-funding-disputes/