Connect with us

Hi, what are you looking for?

Economy

As UN COP16 nature talks are gridlocked, scientists warn of extinction risks

By Jake Spring and Oliver Griffin

CALI, Colombia (Reuters) – Countries were at an impasse over how to fund nature conservation and other key decisions as the U.N. COP16 biodiversity summit entered its second week on Monday in the Colombian mountain town of Cali.

With nature in unprecedented decline and species going extinct faster than ever, scientists warned the world’s governments that there is no time to waste. 

As of today, roughly 38% of the world’s tree species – totaling 16,425 species – are at risk of extinction thanks to timber logging and clear-cutting to make way for farming, mining, road-building and other development efforts, according to the International Union for Conservation of Nature and Natural Resources (IUCN).

“We need to take urgent action … if we really want to keep these tree (species) alive,” IUCN Director Grethel Aguilar told a news briefing in Cali.

The summit, which marks the 16th meeting of parties to the U.N. Convention on Biological Diversity (CBD), is tasked with figuring out how to implement 23 goals outlined in the 2022 Kunming-Montreal Global Biodiversity Framework aimed at halting and reversing nature loss by 2030.

Chief among those goals is having each country of the world set aside 30% of its land and sea territory for conservation – a target known as the 30-by-30 goal.

By the summit’s end on Friday, negotiators and observers hope to achieve progress on a raft of issues touching on financing, genetic material, Indigenous representation and conservation policy. 

“The discussions are going well, but it’s a heavy agenda,” said David Ainsworth, a spokesperson for the secretariat.

While the intensity of these discussions shows countries’ engagement, it is also in some cases is a sign “of a relatively low level of trust” between countries, Ainsworth said. “They have a lot of work to do this week.”

So far, delegates are close to agreeing on a measure to recognize and include Indigenous groups in biodiversity decision-making, including with a new permanent presence for these groups within the official U.N. CBD process.

But many are watching for COP16 to deliver strong options for funding conservation as a measure of the summit’s success. 

Summit talks on how to mobilize the billions of dollars needed to halt biodiversity loss this decade were stuck on Monday, as country delegates debated whether there should be an additional fund created to handle this financing. 

This post appeared first on investing.com

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Former president Donald Trump and his allies have filed hundreds of lawsuits, with more to come, seeking to tighten voting rules or disqualify voters....

    Economy

    LONDON (Reuters) – Bank of England interest rate-setter Megan Greene said she still believed the central bank should take a cautious approach to cutting...

    Editor's Pick

    Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

    Latest News

    Warner Bros. Discovery said Thursday its streaming platform Max added 7.2 million global subscribers in the third quarter. It marked the biggest quarterly growth for...

    Disclaimer: beneficialinvestmentnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 beneficialinvestmentnow.com