Nations falling short on nature funding ahead of UN biodiversity summit
Summarised from 2 outlets · Updated 16 Oct, 14:32 · Archive
Promised funding to protect oceans and forests is falling short ahead of a UN biodiversity conference in Armenia.
Nations have failed to deliver on promised funding to protect the world's oceans, forests and other natural areas ahead of a UN biodiversity conference. The conference, known as COP17, begins Monday in Yerevan, Armenia and runs for nearly two weeks until 30 October. Nearly 200 countries party to the treaty will assess progress on 23 global targets agreed in Montreal in 2022.
Countries committed to protect 30% of land and water important for biodiversity by 2030, known as 30x30. They promised to raise $200 billion annually by 2030 for biodiversity and reform subsidies to provide another $500 billion for nature. Commitments were also made to increase funding to poor countries to $20 billion annually by 2025, rising to $30 billion by 2030.
A UN progress report released Thursday found the gap between ambition and funding is substantial. Fewer than half of parties' biodiversity targets are on track. Current commitments would only protect 26% of land and 12% of sea by 2030, falling short of the 30x30 goal. Convention executive secretary Astrid Schomaker said 'We're not moving fast enough'.
How it is being reported
- Fundraising to protect oceans, forests and other key nature sites falling short ahead of UN summitPromises by nations to spend hundreds of billions of dollars to finance nature and increase protections for oceans around the globe are falling short ahead of a key U.N. biodiversity conference.News4Jax · 16 Oct, 14:10
- Fundraising to protect oceans, forests and other key nature sites falling short ahead of UN summitPromises by nations to spend hundreds of billions of dollars to finance nature and increase protections for oceans around the globe are falling short ahead of a key U.N. biodiversity conference.Clickorlando · 16 Oct, 14:10
In this story: Yerevan · Armenia · Montreal · Astrid Schomaker · United Nations
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