Launching of the “Cali Fund” to support biodiversity on the sidelines of COP16

Launching of the “Cali Fund” to support biodiversity on the sidelines ofCOP16

Biodiversityis nothing but the foundation on which the health of the Earth is built, and the building on which the economic system is built; This is because it is the world’s breadbasket that provides natural resources, enhances agriculture and related industries, helps fish production areas, and also contributes to making the tourism sector more sustainable.

Therefore, preserving biological diversity contributes – without a doubt – to reducing poverty, which is a goal crystallized by Goal (1) of the Sustainable Development Goals (SDGs): eradicating poverty, which is extremely important, and requires all the efforts of the world, both governmental and popular. Among these efforts is the launch of The Cali Fund on February 25 on the sidelines of the Sixteenth Conference of the Parties (COP)to the Convention on Biological Diversity, at the headquarters of the Food and Agriculture Organization (FAO) in the Italian city of Rome.

Biodiversity Finance

This was a significant step towards providing dedicated funding for the protection of biodiversity, with the aim of achieving a fair and equitable distribution of revenues resulting from the use of digital genetic information for genetic resources (DSI), an area that depends entirely on the contribution of the private sector, especially companies that commercially benefit from these resources in the fields of pharmaceuticals, biotechnology, cosmetics, and agriculture.

Also, 50% of the Cali Fund’s resources will be allocated to supporting indigenous peoples and local communities, who have an important presence and role in the process of protecting ecosystems, and other resources will be directed to implementing the Kunming-Montreal Global Biodiversity Framework (KMGBF), through supporting national plans to protect biodiversity and promoting scientific research related to this field.

Fund Management Structure

The UN Multi-Partnership Fund Office will host the Fund, in cooperation with the United Nations Development Program (UNDP) and the United Nations Environment Program (UNEP), and the Secretariat of the Convention on Biological Diversity will also manage it.

Regarding this announcement, Susana Mohamad, President of the Sixteenth Conference of the Parties (COP) on Biodiversity, welcomed the launch of the Fund, praising the speed of its completion. She said: “We are proud that this fund will see the light in a short time; This reflects a strong global commitment to protecting biological diversity”.

For her part, Elizabeth Mrema, Deputy Executive Director of the United Nations Environment Programme, stressed that the fund represents a new model for the private sector’s contribution to nature conservation, noting that companies that support this fund will be known as pioneers in reinvesting in the environment.

In the same context, Marcus Neto, Director of the Center for Sustainable Finance at the United Nations Development Programme, explained that the success of the Cali Fund will be crucial in supporting communities that conserve biodiversity. This was confirmed by Alain Noudhou, Executive Coordinator of the Multi-Partnership Fund Office, saying: “The launch of the Fund represents the beginning of a new era of international cooperation; In order to support nature and the communities dependent on it».

In conclusion,Earth Guards appreciates such global efforts, and sees the sharing and preservation of natural benefits as an opportunity that is no substitute for paying attention to and enhancing them through the involvement of the private sector in protecting biodiversity at the global level. So that the earth becomes healthier and more sustainable for us and for future generations.