Saudi Press

Saudi Arabia and the world
Sunday, Jun 01, 2025

Developing nations demand more money at crunch UN biodiversity talks

Developing nations demand more money at crunch UN biodiversity talks

The thorny issue of how much money wealthy countries are willing to pony up to protect the world’s remaining biodiversity took center stage Wednesday at UN talks in Montreal aimed at creating a “peace pact with nature.”
At stake is the future of the planet and whether humanity can roll back habitat destruction, pollution, and the climate crisis that are driving the sixth mass extinction of plant and animal species.

Negotiators worked late into the night Tuesday, but “the atmosphere deteriorated when the group started discussing concepts, in particular the global biodiversity fund (GBF) proposal,” said UN spokesman David Ainsworth, leading to a walkout by developing nations.

The GBF is a new financial instrument sought by low-income nations to help them, for example, establish marine or terrestrial protected areas and implement biodiversity action plans.

A long pause in technical talks on other items appeared to be resolved after China, the chair, held an hours-long meeting of the heads of delegations Wednesday, though the finance issue isn’t yet settled.

“Our territories are home to most of the biological diversity of the world,” said a statement by Brazil, which added existing financing mechanisms were not up to the task.

Brazil, which also spoke on behalf of other developing countries, including the African Group, added that the new fund should provide $100 billion annually, or one percent of global GDP, until 2030.

Financial flows from the Global North to South are currently estimated at around $10 billion annually.

Wealthy nations say they would rather reform existing financial mechanisms and leverage more private sector funding.

The deterioration in dialogue came on the eve of the high-level phase of negotiations involving the environment ministers of the 196 members at the Montreal summit, called COP15, which began on December 7 and is set to run to December 19.

“The walkout that happened last night is a signal of a pivotal moment in the negotiations that we needed,” Masha Kalinina of The Pew Charitable Trusts told AFP.

“It draws important attention to this negotiation, especially as the leaders are arriving today and tomorrow we are waiting with bated breath.”

Innocent Maloba of WWF International added: “As the countries with the greatest roles in driving biodiversity loss... developed countries have a duty to support developing countries in the protection and conservation of the biodiversity that we all rely on.

“It is in their own self-interest.”

There are more than 20 targets, including a cornerstone pledge to protect 30 percent of the world’s land and seas by 2030, eliminating harmful fishing and agriculture subsidies, and tackling invasive species and reducing pesticides.

Science shows that time is running out.

An estimated million species are threatened with extinction, a third of the world’s landmass is degraded, comprising the productivity of soil, while pollution and the climate crisis are destroying marine ecosystems.

But the summit has failed to garner the same level attention as a UN climate summit held in Egypt in November, which brought together more than a hundred world leaders.

The meeting is being held in Canada but chaired by China, which declined to host because of its strict Covid rules.

The only world leader in attendance is Canada’s Prime Minister Justin Trudeau.

Speaking at a press conference organized by the nonprofit Avaaz, Hollywood actor and activist James Cromwell singled out French Prime Minister Emmanuel Macron in particular, for opting to visit Qatar to watch the soccer World Cup semi final instead of coming to the COP.

“It’s tragic that it takes an actor to come up here to talk about issues,” he said. “Have you no shame?”
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
×