Final Day of UN Nature Talks: Funding Disagreements Loom as Species Face Extinction
The final day of UN nature talks in Rome focused on funding for biodiversity conservation amidst concerns over species loss. Nations are divided on establishing a new biodiversity fund, with developing countries seeking dedicated funding mechanisms while wealthier nations argue against fragmentation. The urgency of addressing environmental issues remains high as scientists warn of unprecedented species extinction rates.
On the final day of the United Nations nature talks in Rome, nations confronted funding disagreements amid alarming reports of escalating species extinction. While both developed and developing nations acknowledge the severity of the crisis impacting ecosystems and human survival, the main contention arises from how to finance nature conservation adequately.
The discussions are complicated by existing geopolitical issues, including trade tensions and the ongoing war in Ukraine. Notably, the new U.S. administration has not endorsed the UN’s Convention on Biological Diversity and has restricted development funding through the United States Agency for International Development.
Recent negotiations introduced a new framework aimed at resolving long-standing disputes over the establishment of a dedicated biodiversity fund. Canada’s Environment Minister, Steven Guilbeault, underscored the urgency by stating, “We have no time to waste and the world is watching us, and we have a collective responsibility to show the world that multilateralism can work.”
Scientists have warned that approximately one million species are at risk of extinction due to unsustainable agricultural practices, land degradation, and pollution. A landmark agreement in 2022 aimed to protect nature by 2030, with a commitment to deliver $200 billion annually, including $30 billion from wealthier to developing nations.
The crux of the debate now focuses on the delivery mechanisms for the funding. Brazil and the African bloc advocate for the establishment of a specific biodiversity fund, arguing that current arrangements fail to represent their needs adequately. In contrast, developed nations, led by the EU, Japan, and Canada, caution that introducing multiple funds may fragment assistance, complicating the situation further.
This disagreement previously led to extended negotiations at the UN COP16 talks in Cali, Colombia, which concluded without a consensus. As the deadline for an agreement approaches, negotiators are considering postponing decisions on a new fund to future meetings, while suggesting reforms to the existing financial mechanisms.
In summary, the UN nature talks in Rome face critical challenges concerning financing for biodiversity conservation as nations struggle to agree on a sustainable funding mechanism. The call for a dedicated biodiversity fund emphasizes the differing priorities between developing and developed countries. With significant biodiversity loss under threat, the urgency for collective action and financial commitment remains paramount. This conference presents a crucial opportunity for nations to reaffirm their commitment to environmental stewardship and cooperative multilateral action.
Original Source: risingnepaldaily.com
