Despite achieving outstanding progress, such as the creation of a new global biodiversity fund and greater inclusion of indigenous communities, the summit has also left pending important challenges for the coming years. Inclusion of indigenous communities and funds for genetic resourcesOne of the most notable achievements of COP16 has been the formal recognition of indigenous communities within the UN's biodiversity decision-making process. In addition, the “Cali” fund has been created to share the benefits derived from the commercial use of genetic resources. It is estimated that this fund could generate billions for biodiversity conservation, with the proceeds going, in part, to indigenous communities and developing countries. Funding commitments set out in the Kunming-Montreal Global Biodiversity Framework, which include a goal of raising $200 billion annually for biodiversity protection, have not been met.

Source: The Guardian November 05, 2024 13:48 UTC