The call to establish a new global biodiversity fund and to curb the rapid extinction rate is the main demand from developing nations at the UN Biodiversity Summit in Montreal, Canada. Yet, officials note that creating such a fund could take years and might be less effective than reforming existing funding channels. This view was echoed on Tuesday by Canada’s Minister for the Environment and Climate Change.
This stance remains shared by many developed nations in this sensitive debate. The gathering, COP15, aims to negotiate a new global pact for nature.
The summit, running through December 19, brings delegates from around the world together to agree on a new framework: a ten-year plan to safeguard forests, oceans, and living species before drastic losses occur.
Protect 30% of the planet by 2030
Early objectives include a core commitment to safeguard thirty percent of the world’s land and sea, while phasing out harmful subsidies in fishing and agriculture, tackling invasive species, and reducing pesticide use.
The summit, held in Canada through the 19th, is supported by numerous international agencies.
Dozens of countries, notably Brazil, India, Indonesia, and many African nations, are calling for annual financial subsidies of at least 100 billion dollars by 2030, equating to about one percent of global GDP, to protect ecosystems. The current funding level is around 10 billion dollars per year, according to the AFP agency.
“Northern countries understand that ambition must be paired with financial resources,” said Steven Guilbeault, Canada’s minister for the environment and climate change, during a press briefing amid talks.
He warned that new funds could take years to establish and that Southern nations might not access money in that interval.
Reflecting on past initiatives, he recalled that it took seven years to create the Global Environment Facility, which now serves as a major multilateral mechanism for biodiversity. Donors have committed about 5.3 billion dollars to this fund for the current cycle, 2022–2026.
“It would be wiser to utilize existing funds while pursuing reforms that improve access to money,” he said.
“Public money alone cannot cover needs,” Guilbeault noted. He urged exploring special contributions, philanthropic organizations, and multilateral lenders such as the World Bank and the IMF to broaden funding sources.
The goal remains to protect 30% of the planet by 2030. In his remarks, Guilbeault emphasized the need for a stronger effort this week, following a stalemate at the end of the first week of negotiations.
A fund similar to the climate ‘loss and damage’ fund
The divide between developed and developing nations over a biodiversity fund mirrors a debate that surfaced during the recent UN climate talks in Egypt. The idea of a dedicated fund for loss and damage faced significant discussion, then gained acceptance in the climate talks.
Given this precedent, Basile van Havre, co-chair of one COP15 working group, did not dismiss a parallel provision for biodiversity funding.
“The panorama now calls for broader context,” he said, noting rising political momentum for a fund. He added that the European Union is listening to the Global South and Africa Group, recognizing that current funding is insufficient. “So what’s the problem?” asked Anna Ogniewska, a Greenpeace policy adviser.
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End of the day tasks a clearer path for biodiversity funding is under discussion, with officials weighing the balance between ambitious goals and practical financing. The dialogue continues as negotiators seek a package that can deliver meaningful conservation outcomes while ensuring equitable access to resources for communities most affected by biodiversity loss.