COP16 Ends Without Consensus On Financing For Nature Conservation
The COP16 biodiversity summit in Cali, Colombia, ended in disappointment this weekend, with countries failing to determine how to raise $200 billion a year in funding for conservation by 2030, reported Reuters.
Originally intended as a check-in on countries’ progress with meeting the goals of the 2022 Kunming-Montreal Global Biodiversity Framework (GBF), COP16 went into overtime Saturday as nations scrambled to reach a consensus while delegates dwindled along with hopes for a decisive conclusion.
“I am both saddened and enraged by the non-outcome of COP16,” said Shilps Gautam, carbon removal financing firm Opna’s chief executive, as Reuters reported.