India and Bangladesh Call for Inclusive Biodiversity Financing at UN COP16 Summit

GG News Bureau
New Delhi, 23rd Oct. At the ongoing UN COP16 biodiversity conference, India and Bangladesh urged for a more transparent and inclusive mechanism to facilitate biodiversity financing, highlighting concerns over the cumbersome procedures related to the Global Environment Facility (GEF). This call came during discussions focused on enhancing biodiversity conservation efforts and was reported by the Earth Negotiations Bulletin from the International Institute for Sustainable Development.

India emphasized the significance of national biodiversity strategies and action plans (NBSAPs) in fostering policy coherence across various sectors. These strategies are viewed as essential for implementing comprehensive and effective biodiversity conservation measures at the national level.

In a joint statement, India and Bangladesh expressed their concerns regarding the existing GEF procedures, noting the necessity for a more straightforward and inclusive approach to biodiversity financing. The bulletin quoted their remarks on the complexity of current procedures, which could hinder effective financing for biodiversity projects.

During discussions on living modified organisms (LMOs), both Zambia and India agreed that existing guidance on LMOs could be effectively applied to fish, advocating for the use of current regulatory frameworks instead of creating new guidelines.

The conference has seen intensive discussions as Working Group I concentrated on resource mobilization and financial mechanisms, while Working Group II addressed marine biodiversity, synthetic biology, and capacity-building initiatives. Nations including South Africa and China echoed the calls for equitable and accessible biodiversity financing, with several Pacific Island states advocating for a stronger emphasis on local biodiversity initiatives.

The discussions underscored a global appeal for increasing financial contributions to support biodiversity conservation. Countries like Mexico and Fiji called for direct access to funds specifically for Indigenous Peoples and local communities, reinforcing the need for inclusive financial solutions.

A recurring theme throughout the negotiations has been the importance of capacity building, particularly in developing countries. Delegates stressed the need for technical and financial support to ensure the successful implementation of biodiversity-related initiatives.

As negotiations progress, contact groups have been formed to tackle key issues such as marine and coastal biodiversity, the intersection of biodiversity and health, and synthetic biology, with the aim of reaching a consensus on these complex matters.