Call on rich nations to provide $60 bn annually to address biodiversity loss

Nairobi, March 1 Leading environment groups agreed that the US, the countries of the European Union, the UK, Japan, Canada and other wealthy countries should support a target of at least $60 billion annually of international finance for biodiversity in developing countries.

To stop biodiversity loss and achieve a nature-positive economy, this financing effort must be part of a broader and holistic package to close the biodiversity finance gap, including increased domestic and private finance for biodiversity and the elimination of public and private investments that are harmful to biodiversity.

The recommended $60 billion figure was released in advance of a major round of United Nations biodiversity negotiations set to take place in Geneva, Switzerland, this month, an important moment on the road to the final biodiversity summit in Kunming, China, later this year.

In China, delegates from over 190 countries will agree on a global strategy to confront the biodiversity crisis, the post-2020 Global Biodiversity Framework

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor