The world’s nations have agreed a funding plan at UN talks in Rome for reversing the decline of nature.
Countries were eventually able to overcome deep divisions which had led to the breakdown of negotiations last year in Colombia.
It is hoped that the deal will help countries to reach their goal of raising $200bn (£159bn) by 2030 for biodiversity action.
The current rate of species decline is so great globally that many scientists warn humans could be causing the “sixth mass extinction” on Earth.
The extinction rate of species globally has been rapidly accelerating over the last 50 years as animals and plants struggle to survive in the face of increased threats from human activities and climate change.
In 2022, recognising that dramatic action was needed, countries agreed a landmark deal to halt this decline of nature and agreed to protect 30% of the world’s land and seas.
In order to achieve this goal countries agreed that $200bn (£159bn) a year would be mobilised by 2030, but according to the latest data from the OECD only $15bn (£12bn) has been raised.
It was hoped that at last year’s UN biodiversity summit in Colombia, known as COP16, countries would come up with a new plan to close this significant funding gap.
But the negotiations broke down in dramatic fashion after the talks ran so far into overtime delegates had to leave to catch scheduled flights home.
Countries reconvened this week in Rome and after three days of, at times tense, discussion they managed to agree on a new strategy in the late hours of Thursday evening.
The deal agreed includes:
- calling on countries to have national funding strategies
- a commitment to having a permanent fund for nature
- dedication of funding for indigenous groups
Many negotiators said they saw the agreement as a success for international cooperation in the face of increased global trade disputes.
Not all countries were present at the talks and the US was notably missing.
Initial reaction from environmental charities suggested they were happy that an agreement had been reached but reiterated the need to see actual money delivered.
Jill Hepp, biodiversity policy lead at Conservation International, said: “While this is a moment to celebrate, we also need to see action and innovation immediately following these decisions.”
“No matter where you live or work, our food, water, livelihoods and economies all depend on a thriving natural world,” she said.
It is estimated that over half of global GDP is dependent on nature, and up to 4 billion people rely on the world’s ocean resources and forests.
Despite getting an agreement many nations have still failed to submit their strategies for tackling biodiversity loss in their own countries – the deadline for which was last year. The UK submitted its plan on Thursday.
The Joint Nature Conservation Committee (JNCC), the UK government’s advisory body on nature conservation, estimated in 2023 that only 6.5% of the country’s land is adequately protected.
