Governments move closer to deal at biodiversity conference

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Governments move closer to deal at biodiversity conference
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There were signs that negotiators were closing in on a deal at a U.N. conference that would protect nature and provide financing to set up protected areas and restore degraded ecosystems.

The head table gets set to open the high level segment at the COP15 biodiversity conference, in Montreal, Thursday, Dec. 15, 2022. There were signs Sunday that negotiators were closing in on a deal at a U.N. conference that would protect nature and provide financing to set up protected areas and restore degraded ecosystems.

The draft also calls for raising $200 billion by 2030 for biodiversity and working to phase out or reform subsidies that could provide another $500 billion for nature. As part of that, it calls to increase to at least $20 billion annually or by some estimates triple the amount that goes to poor countries by 2025. That number would increase to $30 billion each year by 2030.

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. Humans use about 50,000 wild species routinely, and 1 out of 5 people of the world’s 8 billion population depend on those species for food and income, the report said.

The financing has been among the most contentions issues, with delegates from 70 African, South American and Asian countries walking out of negotiations Wednesday. They returned several hours later.

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