World Needs at Least US$200bn Per Year to Protect Global Biodiversity

• 27 December 2022
• Local News
• 1325 Views

196 country members of the United Nations Convention on Biological Diversity have agreed to raise at least US$200 billion a year from all sources, both public and private, to protect global biodiversity,  according to the United Nations Summit on Biodiversity on 7-19 December 2022, in Montreal, Canada. 

Those countries also agreed to increase international financial flows from developed to developing countries, especially the least developed countries, to at least US$20 billion/year by 2025 and at least US$30 billion/year by 2030. 

These funds will be used to implement the Kunming-Montreal Global Biodiversity Framework, which was adopted by the summit and has four major goals and 23 sub-goals set by the members. 

Members must make global efforts to protect 30% of the world’s inland, freshwater, coastal and oceans by 2030. To date, only 17% of land and 10% of the sea are protected. 

In the meeting, Cambodia pledged to update its National Biodiversity Strategy and Action Plan (NBSAP) to set its priorities and implement actions in line with the Kuomintang-Montreal Global Biodiversity Framework.  

Cambodia needs about US$500 million to nearly US$2 billion per year until 2050 to implement strategic plans to reduce greenhouse gas emissions. (Read more)

• Energy and Environment