In response to rising calls for funding at COP15, Canadian Prime Minister Justin Trudeau yesterday announced a one-time CA $350 million commitment in new international financing for biodiversity safeguards. Direct funds for Indigenous organizations will be needed for biodiversity finance to thrive.
Arkilaus Kladit, Knasiaimos Indigenous Peoples Council member said:
“It’s infuriating to hear talk about finance when there’s no clear outline for how Indigenous Peoples will access direct funds to protect biodiversity. We hear many references to how much work Indigenous Peoples do and how much everyone needs Indigenous Peoples. But if there are no paths to direct funds to Indigenous Peoples, then this is a one way street.”
Reykia Fick, Greenpeace Canada Nature and Food Campaigner said:
“Canada committing to new funds to tackle the global biodiversity crisis is a positive first step and increases the pressure for other developed countries to put new, money on the table. However, considering US$100 billion annual deficit in global biodiversity funding identified by the Africa Group and like-minded countries, and an annual CA$600 million recommended by the Green Budget Coalition, this must only be a starting point towards Canada paying its fair share towards the ongoing, global effort to halt and reverse mass extinction.”
Li Shuo, Greenpeace East Asia Senior Policy Advisor said:
“Biodiversity protections will require adequate finance. Today’s announcement is a step in that direction. But more steps are necessary. For COP15 to be effective in protecting biodiversity, there must be more finance over the next two weeks and each commitment will be judged by its inclusion of direct funds for Indigenous Peoples.”
Since 2020, the African Union (a coalition of 55 CBD member states) with the support of many developing countries and China proposed a global biodiversity fund to finance protections in developing economies with at least USD $100 billion annually, rising to US$700 billion yearly by 2030. During the first session of talks held in Kunming, China, in 2021, China pledged an initial USD $230 million.