COP16 Conference Ends Without Funding Agreement

The 16th Conference of Parties (COP16) to the UN's Convention on Biological Diversity in Cali, Colombia, concluded without a consensus on critical funding for species protection, disappointing many participants including Greenpeace. While some progress was achieved, such as the establishment of a Panel on Indigenous Rights and a resolution on digital sequence information, the absence of a financial roadmap overshadowed these advancements. Participants were divided along wealthy and developing country lines, with negotiations lasting nearly 12 hours longer than scheduled before being suspended due to a lack of quorum. The conference aimed to mobilize $200 billion annually by 2030 for biodiversity, yet only $15 billion was allocated in 2022. Key demands for a new global fund for nature faced last-minute objections from developed nations, leading to the suspension of discussions. COP President Susana Muhamad emphasized the urgency of continued efforts, stating, 'this crisis is too big and we cannot stop.'