Delegates from nearly 200 countries signed an agreement to halt and reverse nature loss at the UN Biodiversity Conference COP15 co-hosted by China and Canada, as reported by South China Morning Post on December 19. Countries also agreed to adopt a global biodiversity framework, the Kunming-Montreal Global Biodiversity Framework, to address key drivers of nature loss and to protest and restore nature. The Kunming-Montreal Global Biodiversity Framework sets four long-term goals to protect global biodiversity and 23 targets to be achieved by 2030. While the Kunming-Montreal Global Biodiversity Framework is not legally binding, countries will need to set out national biodiversity plans to show their progress in meeting the targets. 

The deal reached at COP15 includes targets to protect 30% of the land and water that are crucial for biodiversity by 2030, set up a financing package for developing countries to protect nature, and restore 30% of the planet’s degraded land and ecosystems. Rich countries have agreed to provide USD30bn of subsidies each year to developing countries by 2030. Countries at COP15 also agreed to develop a financing mechanism for countries to share the benefits from drug discoveries, vaccines, and food products that use genetic data in digital form, which is also known as the digital form of biodiversity.

Sources:

https://english.news.cn/20221220/dcb1f9e2249d4430b50daebae4a2bfb5/c.html

https://english.news.cn/20221219/8fbb2acc388b4225be3a11d44d35cd5b/c.html

https://www.scmp.com/news/world/africa/article/3203850/un-conference-seals-historic-biodiversity-deal-protect-30-cent-planet-2030

https://www.theguardian.com/environment/2022/dec/19/cop15-historic-deal-signed-to-halt-biodiversity-loss-by-2030-aoe

https://www.theguardian.com/environment/2022/mar/30/cop15-faces-copenhagen-moment-genetic-data-dispute-aoe