Representatives failed to agree on how they would mobilize US$200-billion annually, including US$30-billion directly from rich nations
Wealthy nations appeared to hit a limit with how much they are willing to pay to conserve nature around the world, instead shifting their focus at the two-week U.N. biodiversity summit toward discussions of private money filling the funding gap.
But there was no consensus as talks dragged on beyond the summit’s scheduled end on Friday, during which dozens of delegations departed. By Saturday morning’s roll call, there was no longer a quorum among the nearly 200 nations for an agreement to pass, forcing organizers to abruptly suspend the meeting.
European governments including Germany and the Netherlands have slashed their foreign aid budgets over the last year, while France and the U.K. are also cutting back. The response was muted. Nations at COP16 pledged $163 million in contributions to the fund, bringing total contributions to roughly $400 million – far from a major contribution to the $30 billion target from nations by 2030.
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