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UN biodiversity summit COP16 ends in limbo as countries spar over funding

Bloomberg
Bloomberg • 6 min read
UN biodiversity summit COP16 ends in limbo as countries spar over funding
Delegates failed to agree on a revised strategy to raise and distribute more funds to countries to protect nature. That raises doubts ahead of the global climate summit COP29, set to begin Nov 11 in Baku, Azerbaijan. Photo: Bloomberg
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The 16th United Nations Biodiversity Conference ended abruptly Saturday as countries disagreed in overtime talks about the creation of a new global nature fund.

After negotiations in Cali, Colombia, stretched through Friday night and into Saturday morning and delegates began to depart to travel home, Susana Muhamad, the host country’s environment minister and the president of COP16, ultimately suspended the summit for lack of a quorum. 

The main focus of COP16 was to advance a landmark biodiversity pact adopted in Montreal two years ago. Through the so-called Kunming-Montreal Global Biodiversity Framework, almost 200 countries agreed to reverse a steep decline in nature by the end of the decade and come up with hundreds of billions of dollars for that purpose. 

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