Global summit on nature adopts a novel way to pay for conservation

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Companies profiting from genetic information in digital databases will contribute 1% of their profits or 0.1% of revenue.

Half of the funds are allocated to Indigenous communities.

Delegates at the talks, known as COP16, shorthand for the 16th Conference of the Parties to the Convention on Biological Diversity, called the agreement an important breakthrough.

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Article Details

Author / Journalist: NYT News Service

Category: Business

Markets: India

Topics: Genetic information Biodiversity fund COP16 Conservation funding Global summit

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-04 @ 10:24:14 (1 days ago)

News Timezone: GMT +8:00

News Source URL: economictimes.indiatimes.com

Language: English

Article Length: 579 words

Reading Time: 4 minutes read

Sentences: 28 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Economic Times

News ID: 23388827

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About Economic Times

Main Topics: Business

Official Website: economictimes.indiatimes.com

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Year Established: 1961

Headquarters: India

News Last Updated: 7 hours ago

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