Increasing funds for biodiversity
October 22nd 2012
In a major breakthrough at the United Nations conference on biological diversity, which concluded [in Hyderabad] early Saturday, the developed countries agreed to double funding by 2015 to protect the planet’s animal and plant species.
After marathon discussions which continued well past midnight, the 11th meeting of the Conference of the Parties (COP11) to the United Nations Convention on Biological Diversity (CBD) reached an agreement to increase funding in support of actions to halt the rate of loss of biodiversity.
“Developed countries agreed to double funding to support efforts in developing states towards meeting the internationally-agreed Biodiversity Targets, and the main goals of the Strategic Plan for Biodiversity 2011-2020,” said a release from the CBD secretariat.
However, the task on hand is still huge with India-UK High Level Panel chaired by environmental economist Pavan Sukhdev, estimating that $150 billion to $440 billion per annum is required to meet the targets.
Read the entire article: Times of India
More on this issue: The value of biodiversity