Saturday, November 2, 2024 will be remembered in the annals of international diplomacy as the day when COP16 biodiversity suffered a resounding failure. Colombian President Susana Muhamad had to suspend negotiations, lamenting the loss of quorum among delegates, many of whom left the plenary after a night of heated debate. This forced break left a bitter taste in the mouths of participants, unable to reach an agreement on the financing needed to achieve the 2030 goals for nature conservation.
The stakes were nevertheless crucial, with the need to mobilize $200 billion per year to save biodiversity, including $30 billion in aid from rich countries. Despite more than ten hours of intense discussions, the creation of a new fund for nature did not find favor in the eyes of industrialized nations, which were reluctant to multiply multilateral aid and financing mechanisms.
Despite this bitter failure, the Colombian president has still achieved some progress, such as a strengthened status for indigenous peoples, the recognition of Afro-descendants and the establishment of a multilateral fund to distribute the benefits from the exploitation of the digitized genome of natural resources in developing countries. These measures, although salutary, are not enough to compensate for the lack of consensus on the financing needed to preserve our planet.
This setback highlights once again the persistent divisions between rich and developing countries regarding environmental protection. As the climate emergency becomes more and more pressing, it is more necessary than ever to find concerted and effective solutions to preserve biodiversity and ensure a viable future for future generations.
It is therefore imperative that the various stakeholders put aside their differences and reach a compromise to release the funds needed to preserve nature. Time is running out, and it is everyone’s responsibility to make a firm commitment to protecting our planet. Only true international cooperation can guarantee a sustainable future for our environment and all the species that inhabit it.