Leaders Urge Urgent Funding as COP16 Biodiversity Talks Open in Colombia

Nearly 200 countries convened in Cali, Colombia, on Monday for the opening of the United Nations COP16 summit, with a resounding call for immediate action to mobilize billions of dollars to halt rapid nature destruction. UN leaders and national representatives emphasized the critical need for substantial investment to preserve global biodiversity.

“The planet doesn’t have time to lose,” declared COP16 President Susana Muhamad during the opening session in Cali, located southwest of the Colombian capital, Bogota. “We all agree that we are underfunded for this mission,” added Muhamad, who also serves as Colombia’s environment minister.

Two years prior, nations adopted the landmark Kunming-Montreal Global Biodiversity Framework, outlining 23 goals aimed at stopping biodiversity loss by 2030. A key component of this framework is the mobilization of \$200 billion annually for conservation efforts. However, despite the establishment of the Global Biodiversity Framework Fund last year, speakers at the summit expressed concern that it has only secured millions, far short of the billions envisioned.

On Sunday night, UN Secretary-General António Guterres delivered a stark message via video, warning that the world is off track to meet the 2030 goals. He urged delegates to leave the summit with significant new investments committed to the framework fund.

Brazil’s chief negotiator, André Corrêa do Lago, voiced apprehension over the inadequate donations, stating that it raises doubts about the fund’s ability to achieve the framework’s objectives. He emphasized the importance of filling the funding gap without exacerbating the debt burdens of developing nations.

Developed countries had agreed under the biodiversity framework to provide developing nations with \$20 billion annually by 2025, an increase from \$15.4 billion in 2022, according to the latest figures from the Organisation for Economic Co-operation and Development (OECD). The challenge remains to secure these funds in a manner that is sustainable and equitable.

COP16 President Muhamad highlighted a broad agenda for the summit, including evaluating national biodiversity pledges, enhancing the inclusion of Indigenous communities in conservation decisions, and reaching agreements on compensation mechanisms for the sharing of genetic resources.

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Leaders urge world to pay up to save nature as COP16 talks open

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