Although the COP16 summit in Colombia ended with some important agreements, countries still aren’t moving fast enough to stem biodiversity loss

BusinessGreen looks at why the Cali Biodiversity Summit failed to deliver the outcome that many observers had hoped for - and what it means for COP29 later this month

The two-week conference was suspended before a crucial agreement on funding for a new global fund for nature. However, delegates made strides on corporate payments for genetic data and formal representation for Indigenous people.

At the COP16 negotiations in Cali, Colombia, countries failed to figure out how they would mobilize $200 billion annually in conservation funding by 2030, including $30 billion that would come directly from rich nations.

India successfully intervenes at COP16 in Cali to ensure national laws are respected in a new global mechanism for sharing benefits from digital genetic information. Although the summit made progress,