China on Sunday presented the proposed text of a new global agreement that would commit to protecting at least 30 per cent of land, water and marine areas by 2030 and mobilize hundreds of billions of dollars to fund it.
Chinese Environment Minister Huang Runqiu released the draft of the Kunming-Montreal Global biodiversity framework on the second-to-last day the COP15 biodiversity convention in Montreal.
The final draft comes after nearly two weeks of negotiations among 196 countries who are part of the UN biodiversity convention. They are seeking a new deal to halt the human destruction of nature and to begin restoring what has already been lost. Heading in to the final hours of talks, something of a staring contest had broken out between developed and developing nations over the best way to flow new financing for conservation efforts.
Another draft on the issue of resource mobilization proposes the creation of a dedicated global biodiversity fund, which is a key demand of developing nations and one that some developed nations have been resisting.
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