UN nature summit ends in limbo as countries spar over funding

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UN nature summit ends in limbo as countries spar over funding - Business Mirror

Quick Summary:

The 16th United Nations Biodiversity Conference ended abruptly Saturday as countries disagreed in overtime talks about the creation of a new global nature fund.

For Pierre du Plessis, former negotiator for the African group of countries that negotiate as a bloc, it amounts to “a small step forward.” Du Plessis said this agreement sets the mechanism in motion and outlines a process to improve it, but “is unlikely to mobilize funding at the scale or pace required.

In the final hours of talks, Bernadette Fischler Hooper, head of global advocacy at WWF International, said the 2022 pact was in “grave peril” due to ongoing spats over the money.Around 4:30 a.m.on Saturday, the Philippines made an emotive intervention about its loss of species to typhoons and coral bleaching.