The United Nations Biodiversity Conference (COP16) recently concluded in Cali without securing an anticipated funding agreement from wealthier nations to support global biodiversity efforts. Despite this setback, the conference yielded positive outcomes, including the establishment of a permanent Indigenous advisory body at the U.N., offering Indigenous peoples and local communities a formal platform for conservation input and collaboration.
Greenpeace International expressed frustration over the lack of progress on financial commitments, emphasizing the urgency of biodiversity loss. “The world has lost 5% to 10% of all insect species in the last 150 years,” Greenpeace said. “There will be no way out of this terrifying biodiversity crisis if Global North countries continue to put money above life on our planet.”
The primary objective of COP16 was to build upon the Kunming-Montreal Global Biodiversity Framework, a pact nearly 200 countries agreed to in 2022 to address biodiversity loss by 2030. However, attempts to finalize new financing mechanisms stalled as delegates struggled to meet demands for a new global biodiversity fund. Discussions continued past the summit’s scheduled end, forcing some representatives from smaller nations to leave due to travel constraints.
Indigenous Body Gains Global Recognition
One of COP16’s most significant achievements was the creation of a permanent Indigenous consulting body within the U.N. Camila Paz Romero, an Indigenous representative, hailed this milestone, stating, “This is an unprecedented event in the history of multilateral agreements on the environment. Indigenous groups are now recognized for their vital role in protecting life and biodiversity worldwide.”
The new Indigenous body is expected to enhance conservation strategies by incorporating traditional knowledge and local expertise into global environmental policies. Many environmentalists view this as an example of the expanding recognition of Indigenous contributions to biodiversity preservation.
The Global Oceans Treaty and Genetic Resource Sharing
Another noteworthy development was the progress made on the Global Oceans Treaty, which aims to protect marine biodiversity and is slated for ratification by mid-2025. Additionally, COP16 introduced a new measure requiring pharmaceutical and cosmetic companies to share profits from products derived from natural genetic data. These funds will contribute to the Cali Fund, a new financial mechanism created to support biodiversity projects in developing nations.
Under the new policy, large companies in biotechnology, pharmaceuticals, and cosmetics are encouraged to allocate a percentage of their revenue to the Cali Fund, with 50% of proceeds earmarked for Indigenous communities. While the agreement on genetic resource sharing represents a step forward, some activists argue it lacks the financial scale needed to meet COP16’s biodiversity goals.
A Missed Opportunity on Funding: Challenges Ahead
The suspension of the summit highlighted the persistent divide between developed and developing nations regarding resource mobilization. Wealthier countries resisted calls for a new fund, preferring instead to work within existing structures. Pierre du Plessis, an advocate for African nations, described the new agreement as a “small step” but acknowledged it may fall short of achieving the necessary impact.
Looking forward, experts hope that COP29, scheduled to begin in Baku, Azerbaijan, later this month, will build on COP16’s achievements and push for more comprehensive funding solutions.
Growing Global Awareness and Local Engagement
COP16 saw record attendance, with over 20,000 delegates and high levels of local participation. Colombia’s government encouraged community engagement, making COP16 a “people’s COP.” Over 800,000 people participated in a series of environmental activities held in Cali’s “green zone,” signifying a successful effort to elevate biodiversity issues among the public.
Conclusion: New Gains but Growing Urgency
While COP16 fell short of a comprehensive funding agreement, it marked essential progress with the creation of a permanent Indigenous advisory body and advancements on the Global Oceans Treaty and genetic resource sharing. With the next major climate and biodiversity summit approaching, the U.N. and participating nations face mounting pressure to secure robust financial commitments that address both biodiversity loss and climate change. As the world nears the critical 2030 deadline, the need for collaborative, cross-border efforts to safeguard ecosystems has never been more urgent.
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