Nations Revisit Funding for Nature Conservation at UN Talks in Rome

Global talks to protect nature have recommenced in Rome, addressing previous funding disputes that stalled negotiations. Countries are negotiating to secure a $200 billion annual fund by 2030 to combat environmental degradation. Developing nations are pushing for a dedicated biodiversity fund, while wealthier countries resist, citing fragmentation of aid. Failure to reach consensus could have dire implications for global biodiversity efforts.

Global discussions aimed at preserving nature recommenced on Tuesday, emphasizing the necessity for a unified response to sustain life on the planet amid funding disputes that brought previous negotiations to a standstill last year. More than two years post the landmark agreement to safeguard 30% of the world’s land and seas by 2030, countries continue to negotiate financial allocations to counteract environmental deterioration threatening a million species.

During the talks at the UN’s Food and Agriculture Organization in Rome, negotiators face a deadlock regarding the establishment of a specific fund for nature conservation. The lack of consensus on this issue caused the prior UN COP16 talks in Cali, Colombia, to extend beyond designated time and conclude without an agreement.

Developing nations, during the conference’s opening, urged for unblocked funding and insisted wealthier states honor their commitment of providing $20 billion annually to aid poorer nations by 2025. “Without this trust might be broken,” remarked Panama’s representative, highlighting the need for financing to address the biodiversity crisis effectively.

The meetings occur against a backdrop of geopolitical challenges, including trade disputes and the ongoing conflict in Ukraine. Although the United States has not ratified the UN’s Convention on Biological Diversity, President Donald Trump has initiated cuts to development funding through the United States Agency for International Development.

COP16 President Susana Muhamad encouraged global collaboration towards achieving humanity’s vital goal of sustaining life on Earth. She stated that protecting nature has far-reaching potential to unite countries facing various adversities, emphasizing the need for a collective response to preserve ecosystems.

In stark contrast to the previous conference’s 23,000 participants, the current discussions are attended by approximately 1,400 individuals, with only a few hundred national representatives present for the initial sessions. Muhamad conveyed optimism about discussions since Cali fostering groundwork for potential resolutions during this summit.

Nations have until Thursday to formulate a strategy achieving the promised $200 billion in financing for nature by 2030, including $30 billion yearly from affluent nations to support developing ones. The OECD reported that funding for 2022 amounted to only $15 billion, indicating a significant shortfall.

Contention primarily revolves around the mechanisms for delivering this funding; developing nations, spearheaded by Brazil and the African group, advocate for a new biodiversity fund, asserting inadequacies in existing frameworks. Conversely, wealthy nations, led by the European Union, Japan, and Canada, contend that multiple funds would complicate and diffuse assistance efforts.

The COP16 presidency has proposed deferring decisions regarding a new biodiversity fund to future negotiations, suggesting also reforms of current nature conservation financing. Nations identified 23 objectives to be achieved by 2030 aimed at curbing deforestation, resource overexploitation, climate change, pollution, and invasive species.

Last year, scientists disclosed the hidden costs of environmental degradation, estimating that harmful industries could impose a staggering $25 trillion annually, equating to a quarter of global GDP. Previous unsuccessful negotiations, including climate finance agreements, raised concerns among developing nations about the efficacy of UN summits in addressing pressing environmental issues.

The ongoing UN discussions underscore a critical juncture in global efforts to protect biodiversity and manage environmental funding effectively. A major point of contention remains the creation of a dedicated fund for nature conservation, where developing nations seek equal representation and commitment from wealthier states. Urgent action is needed to secure financial commitments and demonstrate genuine determination in addressing the biodiversity crisis, aligning efforts with the Earth’s ecological needs.

Original Source: www.gjsentinel.com