Global negotiators concluded an extended session of the United Nations biodiversity conference, COP16, with key commitments on funds needed and the institutions through which the funds will be channeled to protect the world's biodiversity.
The countries agreed on how they would contribute $200 billion a year by 2030 that was committed in principle at an earlier meeting in Montreal. The money includes a plan to raise $20 billion in annual conservation financing for developing nations by 2025, with that number rising to $30 billion annually by 2030, and on details of the Global Biodiversity Framework, which aims at placing 30% of the planet and 30% of degraded ecosystems under protection by 2030.
