COP16 Biodiversity Conference Suspended in Colombia

The 16th United Nations Biodiversity Conference (COP16) in Cali, Colombia, ended abruptly as nations failed to agree on establishing a new global fund for biodiversity, crucial for halting species loss and fulfilling the 2022 Kunming-Montreal Global Biodiversity Framework goals. Disagreements primarily arose between developing countries, who demanded financial support, and developed nations, leading to a suspension of the summit due to a lack of quorum. Only 12 countries have contributed a total of $396 million towards the estimated $700 billion needed. Despite this setback, a separate fund for nature protection linked to companies using genetic data was agreed upon, alongside the creation of a consultative body for indigenous peoples. Observers express concern that the momentum for biodiversity conservation is waning, with many countries lagging in their commitments. The future of the conference remains uncertain, as delegates depart without a clear path forward on unresolved issues.