The 15th Conference of the Parties (COP15) or UN Biodiversity Summit is an annual international meeting. In the meeting governments from all over the world discuss ways to save biodiversity. A plan is created for the next ten years to protect nature.

Participating nations think we to do something to stop the alarming loss of biodiversity. Also, there is a lot of pressure on developing nations to meet unrealistic conservation goals.

There is also an urgent need for proper funding and the sharing of information.

Key facts!

Common but Differentiated Responsibilities and Respective Capabilities (CBDR)

• The participating nations emphasised that the preservation of biodiversity should be established on the principle of “Common but Differentiated Responsibilities and Respective Capabilities (CBDR).” 
• CBDR is described as the idea that states have common but differentiated responsibilities.
• This is in view of the diverse contributions to the overall degradation of the global environment.
• The application of the CBDR concept has proven to be difficult.

Global Biodiversity Fund (GBF)

• The Global Environment Facility is the source of money for the preservation of biodiversity.
• Developing nations feel that the existing funds are not sufficient.
• In addition, a new procedure needs to be established for the distribution of financial resources.
• There were discussions on the subject of eliminating subsidies as well.
• These subsidies are harmful to the environment, such as subsidies for the production of fossil fuels, agriculture, and forestry.

India at COP15

• The Indian officials emphasised the need to establish a new and dedicated fund.
• These funds would be utilised to successfully implement a framework that halts and reverses the loss of biodiversity.
• India did not concur with the proposal to reduce the subsidy related to agriculture and transfer the savings toward the preservation of biodiversity.
• This is because to support the livelihoods of farmers, particularly small and marginal farmers, the government of India provides a variety of subsidies.
• Indian authorities also emphasised that in order to preserve biodiversity, ecosystems need to be preserved and rebuilt in a way that is holistic and integrated.

“Time is running out. We need an ambitious Global Biodiversity Framework. When we work #ForNature we work for humanity.” – @andersen_inger on the urgency of negotiations at @UNBiodiversity #COP15 in Montreal.pic.twitter.com/5tCyJZPIIw

— UN Environment Programme (@UNEP) December 17, 2022

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