MONTREAL — A successful biodiversity framework to halt the devastation of global ecosystems and wildlife will require compromise from the world’s wealthy and…
Steven Guilbeault is helping guide international nature talks toward a conclusion, with Canada hosting the COP15 in Montreal despite China remaining the president and chief architect of the summit.We deliver the local news you need in these turbulent times on weekdays at 3 p.m.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.
Guilbeault said the hope is that a compromise agreement will be ready by Sunday, a day before the meeting is supposed to end.Estimates suggest US$700 billion a year is needed to properly conserve nature. About $200 billion of that would come from contributions from governments, the private sector and charities, while the rest could be achieved by redirecting government subsidies that harm nature, such as those for fossil-fuel projects.
Lord Zac Goldsmith, the British minister for international environment and climate, said Thursday that to put the size of the need into perspective, the annual total of all government aid for everything — not just nature and climate — is US$160 billion.Article content It lists a number of existing pledges — including 7 billion euros from the European Commission between 2021 and 2017 — and a handful of new ones made in Montreal.
The money aside, there is also a disagreement about how any funds would actually be disbursed. Developed countries want a new biodiversity fund, because they say existing mechanisms are too slow. Wealthier nations do not want to create a new fund.
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