Biodiversity Finance Deal Hits Roadblock
Countries gather in Rome this week for a second crack at figuring out how to generate $200 billion a year to help preserve the world's biodiversity - and give a shot in the arm to global cooperation as the United States draws back. The need for action is acute, with vertebrate wildlife populations down 73% since 1970, the non-profit WWF has said. The resumption of the COP16 conference comes despite failed negotiations in Colombia last October, where only $163 million was pledged towards a nature preservation fund.
- If the talks fail to produce an agreement on biodiversity finance, it could lead to a breakdown in international cooperation and undermine efforts to address the growing crisis of nature loss.
- What would be the consequences for global economies if the world's richest countries are not willing to contribute financially to support poorer nations' conservation efforts?