What's happened
At the UN Biodiversity Conference in Rome, over 140 countries reached a last-minute agreement to mobilize funding for biodiversity protection, despite geopolitical tensions and the absence of the U.S. Delegates agreed on a framework to raise $200 billion annually by 2030, but deferred a decision on a new global nature fund until 2028.
What's behind the headline?
Key Points of the Agreement
- Funding Goals: Countries aim to mobilize $200 billion annually by 2030, with $30 billion from wealthier nations to poorer ones.
- Deferred Decisions: A proposed new global nature fund, crucial for developing countries, was postponed until 2028, highlighting ongoing tensions between donor and recipient nations.
- Geopolitical Context: The absence of the U.S. at the talks raises concerns about its diminishing role in global environmental negotiations, especially under the Trump administration.
Implications
- Biodiversity Crisis: With a recognized funding gap of $700 billion annually, the agreement is a step forward but may not suffice to avert the biodiversity crisis.
- Future Negotiations: The decision to defer the fund indicates potential challenges in future negotiations, as developing countries continue to seek fair access to financial resources.
- Global Cooperation: The agreement reflects a fragile consensus amid geopolitical tensions, suggesting that international cooperation remains possible even in challenging times.
What the papers say
According to the New York Times, the conference concluded with delegates applauding a hard-won compromise, as Colombia's environment minister, Susana Muhamad, emphasized the importance of collective action for the environment. The Guardian reported that the agreement is seen as a crucial step for international cooperation, especially after previous failures at environmental summits. Bloomberg noted that while the strategy to mobilize funding was adopted, the failure to establish a new global nature fund remains a significant concern for developing nations. This sentiment was echoed by various environmental advocates who stress the urgency of securing funds to combat biodiversity loss.
How we got here
The conference followed a previous inconclusive summit in Cali, Colombia, where negotiations stalled over funding issues. The urgency for action stems from a significant biodiversity crisis, with a million species threatened with extinction due to human activities.
Go deeper
- What are the implications of the U.S. absence?
- How will the funding be allocated?
- What challenges do developing countries face in securing funds?
Common question
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More on these topics
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Colombia, officially the Republic of Colombia, is a transcontinental country largely in the north of South America, with territories in North America.
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The United Nations is an intergovernmental organization that aims to maintain international peace and security, develop friendly relations among nations, achieve international cooperation, and be a centre for harmonizing the actions of nations.
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Donald John Trump is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.
