“It's not a small deal. It's a deal with very precise and quantified objectives on pesticides, on reduction of loss of species, on eliminating bad subsidies,” Christophe Béchu, France’s minister for ecological transition, said.
China, which holds the presidency at this conference, released a new draft on Sunday that gave the sometimes contentious talks much-needed momentum.
The deal also calls for raising $200 billion by 2030 for biodiversity from a range of sources and working to phase out or reform subsidies that could provide another $500 billion for nature. As part of the financing package, the framework asks for increasing to at least $20 billion annually by 2025 the money that goes to poor countries. That number would increase to $30 billion each year by 2030.
Then as the agreement was about to be adopted, Congo stood up and said it opposed the deal because it didn’t set up that special biodiversity fund to provide developing countries with $100 billion by 2030. The ministers and government officials from about 190 countries have mostly agreed that protecting biodiversity has to be a priority, with many comparing those efforts to climate talks that wrapped up last month in Egypt.Climate change coupled with habitat loss, pollution and development have hammered the world’s biodiversity, with one estimate in 2019 warning that a million plant and animal species face extinction within decades — a rate of loss 1,000 times greater than expected.
Brazil, speaking for developing countries during the week, said in a statement that a new funding mechanism dedicated to biodiversity should be established and that developed countries provide $100 billion annually in financial grants to emerging economies until 2030.
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