MONTREAL – Negotiators reached a historic deal at a UN biodiversity conference early Monday that would represent the most significant effort to protect the world’s lands and oceans and provide critical financing to save biodiversity in the developing world.
The global framework comes on the day the United Nations Biodiversity Conference, or COP15, is set to end in Montreal. China, which holds the presidency at this conference, released a new draft on Sunday that gave the sometimes contentious talks much-needed momentum.
… The financing has been among the most contentious issues, with delegates from 70 African, South American and Asian countries walking out of negotiations Wednesday. They returned several hours later.
Brazil, speaking for developing countries during the week, said in a statement that a new funding mechanism dedicated to biodiversity should be established and that developed countries provide $100 billion annually in financial grants to emerging economies until 2030.
