- Awful outcome from UN Biodiversity negotiations. Rich countries continue to shirk their outsized responsibility to fund conservation, or even consider the role of the global financial architecture in driving extinction. For climate folks, this is on par with Copenhagen 2009 re: failed COPs. 1/n
- The 'big' finance agreement that was made is a purely voluntary agreement on compensation for the use of genetic resources. Sharing financial benefits of bioprospecting has been failing since the 1990s. It's unclear why it would stop failing now.
- Having representation of Indigenous and Local Peoples in all phases of international biodiversity planning is obviously better than the de facto exclusion that previously existed, but in the absence of additional public finance it's unclear what difference this will make.Nov 4, 2024 11:52
- Ultimately, these negotiations show that Global North negotiators are utterly committed to the fantasy that private investment will make up the gap in biodiversity finance that Northern countries not just aren't filling- but are actively making wider. It is stupid, unserious, and ecocidal.
- For more on how the Global Financial System is driving the extinction crisis and why Global North governments must radically scale up public, grant-based finance for nature, see our work with @CCJ_UBC, Exporting Extinction climateandcommunity.org/research/exp...
