Nations promise to protect 30% of Earth by 2030 – Agree to formation of a new UN biodiversity fund


By: - Climate DepotDecember 19, 2022 8:40 AM

https://www.businessgreen.com/news/4061822/great-step-forward-history-nations-promise-protect-cent-earth-2030

Countries agree to protect 30 per cent of land and sea, slash environmentally harmful subsidies, and ramp up financing for nature restoration and protection

History was made this morning in a conference room in Montreal, after world governments adopted the most ambitious international commitment on biodiversity conservation ever seen, pledging to protect 30 per cent of the Earth by the end of the decade. The new Kunming-Montreal Global Biodiversity Framework, commits countries to deliver “urgent action to halt and reverse biodiversity loss” so as to “put nature on a pathway to recovery” by 2030.

After weeks of wrangling over the best way to finance efforts to deliver on the new 2030 goals, countries have agreed to the formation of a new biodiversity fund, to sit within the UN’s existing Global Environment Facility, that will pool development aid, private sector money, philanthropic donations, and funds raised through the use of digital sequence information of genetic resources. Moreover, rich countries have committed to increase international aid for biodiversity to $20bn annually by 2025, rising to $30bn by 2030, so as to help countries in the Global South with their efforts to conserve the world’s remaining biodiversity ‘hotspots’, which are largely clustered in developing economies.