Global delegates have finalized an ambitious plan to raise at least $200 billion annually to protect nature. The agreement, led by negotiators from the BRICS nations — Brazil, Russia, India, China, and South Africa — represents a crucial step toward preserving biodiversity and supporting environmental efforts worldwide.
The deal is designed to fund efforts to halt and reverse the loss of wildlife and natural ecosystems. It builds on the landmark Kunming-Montreal Global Biodiversity Framework established in 2022, which set out various environmental targets.
Delegates also agreed on technical rules for monitoring progress toward these targets and committed to publishing national reports of their plans ahead of the 17th Conference of the Parties to the Convention on Biological Diversity.
COP16 President Colombian Environment Minister Susana Muhamad hailed the agreement as a win for multilateralism and for nature. "From Cali to Rome, we have sent a light of hope that still the common good, the environment and the protection of life and the capacity to come together for something bigger than the national interest is possible," she said.
Another key part of the agreement involves determining whether a new biodiversity fund is needed or an existing fund, such as the one run by the Global Environment Facility, is good enough.
The need for action has never been clearer. Data from the World Wide Fund For Nature's 2024 Living Planet Report revealed that the average size of wildlife populations has dropped by 73% since 1970.
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With the agreement in place, negotiators have expressed optimism. Maria Angelica Ikeda of Brazil's Ministry of Foreign Affairs highlighted how compromise played a role in achieving a positive result, especially for developing nations. "Everyone with the spirit of compromise made concessions, and in general for developing countries the result was very positive," she said.
"I come out of the meeting happy and optimistic," she added.
While there are challenges ahead, with concerns about cuts to international aid from major funders, including the U.S., this agreement marks an important step in ensuring that vital biodiversity projects receive the financial support they need.
With continued collaboration, this plan hopes to empower countries to protect nature, benefiting people and the environment for years to come.
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