Biodiversity is the 'new' oil, protect it

Representatives from 180 countries met at the UN COP16 Biodiversity Summit in Cali, Colombia, for two weeks. But key issues, including mobilising and distributing $200 bn annually by 2030, a target set at the last biodiversity talks in Montreal, remained unresolved, with developed countries pushing back. Two agreements emerged: payments by pharma, cosmetics and food companies for the use of genetic resources from biodiversity-rich developing countries, and creation of a permanent body for indigenous peoples to advise biodiversity COPs.

The contentious issue of establishing a new fund will be revisited at inter-sessional meetings next year. As with the climate COP that begins in Baku, Azerbaijan, next week, the mobilisation of funds from developed to developing countries remains a hot-button issue. Bridging the gap between what’s pledged and what’s needed for saving the world’s biodiversity will require out-of-the-box thinking and flexibility, along with greater accountability, predictability and clarity to ensure existing funds aren’t reclassified. On average, wildlife populations have declined by almost 70% since 1970. Worldwide, the impact is so large that wild mammals declined as a share of the global mammal biomass from 17% in 1900 to just 4% in 2015. Humans and livestock account for the remaining 96%.

India and other developing countries ensured national laws on access to, and benefit-sharing from, resources weren’t overridden by global mechanisms. While the outcome has its limitations, the agreement opens possibilities for monetary benefits to flow back to communities. The outcomes at Cali should prompt biodiversity-rich, especially developing, countries like India to strengthen mechanisms for conservation and fair use of resources.