COP16: The Funding Dilemma at Global Conservation Summit

COP16 biodiversity summit faces challenges in securing necessary funding, despite pledges totaling $400 million. It aims to implement the 2022 Kunming-Montreal Global Biodiversity Framework to end nature loss by 2030. Delegates debate additional financing and indigenous inclusion in conservation policies.

The COP16 summit is grappling with a significant funding shortfall as it enters its second week in Cali, Colombia. Despite pledges of $163 million on 'finance day,' the target of raising billions remains elusive, drawing concern from conservation advocates.

The event seeks to advance the Kunming-Montreal Global Biodiversity Framework, targeting a 30% conservation of the planet's land and sea by 2030. As negotiations continue, progress in mobilizing financial resources and recognizing Indigenous groups' role in biodiversity decision-making is keenly anticipated.

With 38% of tree species at risk of extinction, the urgency for actionable solutions is clear. The summit's success hinges on bridging the trust gap between nations to secure effective conservation funding strategies.

(With inputs from agencies.)