The Battle for Biodiversity Funds: Insights from the UN Conference in Rome
At the UN Biodiversity Conference COP16 in Rome, representatives from more than 140 countries gathered to deliberate on a crucial issue – who should have control over the funds required for the preservation of creation and biodiversity.
By Maximilian Seidel and Kielce Gussie
Following the previous year’s COP16 meeting in Cali, Colombia, discussions were reignited at this year’s UN Biodiversity Conference in Rome, spearheaded by the Colombian Ministry of the Environment. The urgency of the situation was underscored by Pope Francis, whose encyclical Laudato si’ and letter Laudate Deum emphasized the importance of safeguarding creation and biodiversity.
The intricate web of interactions among different species not only regulates the global CO2 system but also plays a vital role in sustaining human life. Predators help control pests, while bees are essential for pollinating crops. However, these delicate ecosystems are under threat due to industrialized agriculture, making the question of funding for biosphere protection a critical one.
Empowering Voices for Conservation
State Secretary Jan-Niclas Gesenhues of the German delegation emphasized the need for a global financial infrastructure that allows for greater flexibility in financing conservation efforts. He stressed the importance of giving local and indigenous communities a voice in decision-making processes, highlighting the significance of partnerships in the Global South for achieving global conservation goals.
Who Holds the Purse Strings?
While an agreement had been reached at previous conferences to collect 200 billion euros annually by 2030 for environmental subsidies, the current debate revolves around who should control these funds. The dominance of Western countries in decision-making within the World Bank has drawn criticism from nations in the Global South. However, there is hope for a balanced compromise, with Colombian President leading negotiations towards a consensus.
Outcomes of the Rome Conference
On the concluding day of the conference, governments agreed on a strategy to raise funds for biodiversity protection and meet the objectives of the Kunming-Montreal Global Biodiversity Framework (KMGBF). This strategy includes mobilizing resources from various sources such as national governments, private entities, philanthropic organizations, and multilateral development banks.
The adoption of new standards and measurement units for evaluating project effectiveness marks a crucial step forward in assessing the impact of conservation initiatives. These decisions pave the way for future discussions at upcoming COP meetings, underscoring the global commitment to preserving biodiversity for generations to come.
