Keystone-SDA
Night fell on Friday in Cali, Colombia, on the last day of COP16 on biodiversity, without white smoke. As some delegations prepared to leave, new draft agreements were published by the Colombian presidency.
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November 02, 2024 – 06:58
(Keystone-ATS) Around 10:15 p.m. (4:15 a.m. Saturday in Switzerland), the final plenary session began, to adopt certain less contentious decisions. But the main text was still missing: that on how to achieve the objective of increasing global spending to save nature to $200 billion per year.
Of this total, 30 billion will have to be provided by rich countries. In 2022, they had reached around 15 billion, according to the OECD. A first compromise proposed in the morning by the Colombian presidency had dissatisfied everyone.
Developing countries are calling for a new multilateral fund to replace the current one, considered unsuitable and inequitable. But the proposed text was limited to launching a “process” of discussions supposed to continue until COP17, in 2026.
Swiss
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