UN summit ends in limbo, sparring over funding

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The Star 2w ago

UN summit ends in limbo, sparring over funding - The Star

Quick Summary:

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

And developed countries pledged a paltry US$163mil in extra funds to GBFF, adding to its existing US$245mil pot, but still just a tiny fraction of the multi-billion-dollar financing gap that rich nations agreed to plug by next year.

They see the current fund, the Global Environment Facility’s Global Biodiversity Framework Fund (GBFF), as dominated by rich countries that control the purse strings.