COP16 fizzles out as rich countries block global nature fund – POLITICO

During the recent biodiversity conference, a unique funding mechanism was discussed by Oscar Soria from the Common Initiative, highlighting the importance of global community support and corporate involvement. The creation of a subsidiary body for indigenous peoples and recognition of African descent as biodiversity custodians were also key outcomes. However, disagreement arose over establishing a fund for nature restoration in poorer countries, with the Global North opposing the proposal, leading to no agreement being reached before the conference concluded.

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