The United Nations conference on biodiversity (COP16) ended this Saturday, November 2, in Cali, Colombia, without the participating countries reaching an agreement on financing the roadmap to halt the destruction of nature by 2030.
Negotiations were suspended yesterday morning (local time) by the Colombian president of the United Nations summit on biodiversity, Susana Muhamad.
The suspension was due, after another night of discussions, to the loss of the quorum of participants.
This suspension interrupted debates between Brazil, which supported the Colombian proposal to create a new nature fund, and the European Union, Japan and Canada, which were firmly opposed.
The COP15 biodiversity conference, held in 2022, agreed to create a fund, but its operation has not yet been defined.
In Cali, negotiators spent nearly two weeks discussing key issues such as who pays, how much, to which fund and how the money will be distributed.
The summit, which was due to end on Friday, was extended due to tensions between countries over financing arrangements.
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