Developing countries decry broken UN promises on financial resources for #biodiversity. "One set of issues that was not discussed at the Contact Group, despite several Parties raising them at the plenary, was around the need to circumvent the embrace of private sector and blended financing, including market-based instruments (as part of the “all sources” mantra), with a concomitant need to assess their impacts on biodiversity, gender equality and human rights. This is because there is acknowledgement that these measures may not actually result in biodiversity outcomes, or may have adverse impacts on indigenous peoples and local communities, women and youth."
"Developed countries such as the European Union, on the other hand, felt that the 2025 target of at least $20 billion per year was within reach. They stressed the importance of mobilizing resources from “all sources”," (all sources = codeword for market based instruments).
Rich industrialised countries have no intention of giving any significant amount of money, this is where biodiversity credit schemes come in handy to be able to claim that these countries will provide funding, while in reality they will acquire control over new vast pieces of land in the global south and create a new profitable market for their financial sector. #COP16 #CBD
Doctoral Researcher/Agricultural,Environmental and Water Scientist
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