Negotiators at a U.N. summit to protect nature were closing in on a new global deal that could see 30% of the world’s land and seas protected by 2030, with hundreds of billions of dollars directed toward conserving wild places and species. | Reuters
The draft, based on the last two weeks of talks, sets a crucial financial target of $200 billion per year for conservation initiatives, though it demands less from wealthy countries than some developing states had wanted.
Businesses should also be asked to assess and disclose how they affect and are affected by nature loss, but the current document does not make such reporting mandatory. However, it does not clarify whether this means 30% of land and separately 30% of oceans, said Brian O’Donnell, director of the non-profit Campaign for Nature, adding that China needs to quickly clarify its intent.
“Probably we will have to reach an agreement between $30 billion and $100 billion,” Colombia’s Muhamad told reporters. The text suggests harmful subsidies should be reduced by at least $500 billion per year by the end of the decade end, but does not specify whether they should be eliminated, phased out or reformed.
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