Need to re-sensitise the financial powers that be before COP 16 concludes
By Malini Shankar Digital Discourse Foundation Fruit tree plantation has manifold benefits Picture Credit: Accion Fraterna Ecology Centre, Anantapur The 16 th Conference of Parties of the United Nations’ Convention on Biological Diversity at Cali in Colombia remained inconclusive almost wholly because fiscal commitments did not crystalise. The need for fiscal commitments is mandatory given the colossal gaps in meeting the Targets. “COP 16.2 will focus on several critical areas: Securing $200 billion annually by 2030 from all sources for biodiversity initiatives and reducing harmful incentives by at least $500 billion per year by 2030, through the adoption of the new Resource Mobilization Strategy. Establishing systems to monitor and assess progress toward biodiversity targets, ensuring transparency and accountability. The Planning, Monitoring, Reporting, and Review (PMRR) Mechanism is a critical component fo...