Global Biodiversity Fund launched at COP16: A Win for Conservation
After a grueling 12-hour negotiation session, teh UN biodiversity summit (COP16) in Cali, Colombia, concluded with a landmark agreement: the creation of the Cali Fund. this innovative mechanism aims to ensure the fair and equitable sharing of benefits derived from the use of genetic resources,a critical step towards environmental justice.
the agreement,hailed as a major achievement,was celebrated by Colombian Minister of Environment and Sustainable Progress,Susana Muhamad. “Another grate achievement for COP16 in Colombia! The global fund focused on the fair and equitable distribution of the benefits of digitized sequence facts on genetic resources in plenary. it will be called the Cali Fund, as a tribute to this historic biodiversity COP,” she stated.
For Muhamad, the decision represents “an notable step towards environmental justice and peace with nature,” aligning with the COP16’s core mission. The fund will leverage payments from large pharmaceutical companies, agribusinesses, and biotechnology firms that utilize genetic resources. Experts estimate this could generate up to $1 billion annually for biodiversity conservation and restoration.
Martin Harper,CEO of Birdlife International,emphasized the significance of the fund,stating,”without nature,there are no medicines to save life. But it is indeed fair that those who use or rely on biological resources contribute to their conservation (…) The promises made in Cali are as firm as the claims that nations make when they leave this forum.”
This marks the second major agreement reached at COP16’s closing stages. Earlier, the summit recognized the invaluable contributions of indigenous, Afro-descendant, and local communities to biodiversity preservation. This recognition led to the creation of a subgroup under Article 8J of the Kunming-Montreal Global Biodiversity Framework—a key demand from these communities.
This new subgroup will hold a higher position within the Convention on Biological Diversity (CBD) than it’s predecessor, enabling faster action and decision-making, according to indigenous representatives. While the final agenda item—funding and resource transfer—remains unresolved, the Cali Fund represents a significant step forward in global biodiversity conservation efforts.
The implications of the Cali Fund extend beyond Colombia. For the U.S., this agreement highlights the growing global focus on equitable access to and benefit-sharing from genetic resources. american companies involved in biotechnology and pharmaceuticals will need to consider the implications of this new international framework.
