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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.
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.
Nov 4, 2024 11:57
