The COP 15 biodiversity conference has wrapped up its work in Montreal. There were smiles all around, but was any progress made?
fund that will be created under the Global Environment Facility, a 30-year-old organization that supports environmental work.
The commitment over international flows announced Monday at the COP 15 conference is part of a broader move aimed to invest at least $200 billion annually. The bulk of that funding is assumed to come from countries’ domestic spending on nature protection — a flexible descriptor that might include funds for national parks or agriculture, philanthropy and private capital.
Paying for and putting resources into biodiversity: Ensuring that money and conservation efforts get to where they are needed.The president of COP 15, Minister Huang Runqui, declared the deal approved despite objections from the Democratic Republic of Congo, which said it couldn’t back the deal. [The conference was supposed to take place in Kunming, China, but was moved to Montreal because of Covid restrictions in China.
The agreement follows days of intense negotiations. On Saturday, ministers made impassioned speeches about the need to agree on clear goals to put nature on a path to recovery by the end of the decade. “Nature is our ship. We must ensure it stays afloat,” said EU Commissioner for Environment, Oceans and Fisheries, Virginijus Sinkevicius.
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