African penguins (Spheniscus demersus) are seen at the coast of Simon's Town as the number of endangered African penguins has declined due to numerous human factors such as industrial fishing and fuel oil spills in Western Cape, South Africa on September 7, 2024. Photo Credit: Anadolu Agency via Getty Images
EnvironmentSociety ItalyCountries Secure $200 Billion a Year to Protect Nature
In Rome, Italy, countries have agreed to a plan aimed at generating $200 billion a year by 2030, not only to halt but even start reversing the destruction of biodiversity around the world. The agreement has been hailed as a triumph for nature and multilateralism.
“From Cali to Rome we have sent a light of hope that still the common good, the environment and the protection of life and the capacity to come together for something bigger than the national interest is possible,” exclaims COP16 President and Colombian Environment Minister Susana Muhamad.
Talks on biodiversity started in October 2024 during the COP16 held in Cali, Colombia. They were resumed in Rome, Italy, where the so-called BRICS countries – Brazil, Russia, India, China, and South Africa – led the negotiations. The need for action has increased over the recent years, since, according to the World Wide Fund’s 2024 Living Planet Report, the average size of wildlife populations decreased by 73% since 1970. The Organisation for Economic Co-operation and Development has calculated that $15.4 billion of international biodiversity finance was distributed in 2022 alone, with 83% coming from public sources. A set of technical rules for monitoring progress towards the landmark Kunming-Montreal Global Biodiversity Framework deal was agreed upon, and countries were committed to publishing a national report on their biodiversity plans for the COP17 nature talks in Switzerland later this year.
