Cali Fund: A Game Changer in Biodiversity Protection

The U.N. conference in Rome saw calls for companies using natural genetic coding to pay for biodiversity protection. The newly launched 'Cali Fund' aims to involve the private sector in funding conservation efforts, targeting $200 billion annually. The fund will significantly benefit indigenous peoples and local communities.

At a U.N. conference in Rome, companies using the genetic coding of the natural world in product development faced growing pressure to contribute financially to biodiversity protection. This appeal coincided with the launch of a new fund designed to engage businesses in conservation efforts.

The 'Cali Fund,' named after the Colombian city where the initiative began, represents the first effort by the U.N. Convention on Biological Diversity to directly raise money from the private sector. Half of the fund's proceeds will support indigenous peoples and local communities, as stated by Elizabeth Mrema of UNEP.

No firm commitments have been made yet, but discussions involve firms, including those from the U.S. The fund's goal is to raise $200 billion annually to protect ecosystems, a target highlighted by nations underscoring the continued debate on financial responsibilities at the conference.

(With inputs from agencies.)