On the resumed UN biodiversity stop COP16 in the Italian capital Rome, the participating countries reached a compromise on the last nick of time on Thursday evening about the Cali Fund, a fund in which companies voluntarily pour part of the profit they make thanks to the digitized genome of plants and animals.
This wants to stop the loss of biodiversity. At the beginning of November last year, the COP16 failed in Cali Colombian. After nocturnal negotiations, it turned out that the required quorum of countries was no longer present, so that the top ended without an agreement on the financing and a monitoring mechanism with which you can check whether the 196 countries that have signed the Kunming-Montreal agreement fulfill their commitments.
That is why the countries were together in the FAO headquarters, the Food and Agricultural Organization of the United Nations this week from Tuesday to Thursday. At the end of the third and last day of the resumed top, the rich and poor countries came to an agreement.
According to the plan, billions of dollars must be released by 2030. That money should also be distributed better so that it goes to the countries that are hit hardest.