Global Leaders Secure $200 Billion Yearly to Halt Biodiversity Crisis

Countries agreed on a $200 billion annual finance plan by 2030 to combat biodiversity loss. After initial failed talks in Colombia, the breakthrough in Rome was hailed as a victory for nature and diplomacy. The agreement involves BRICS and seeks collaboration to meet environmental targets globally.

In a decisive move toward environmental preservation, a gathering of global leaders in Rome has set forth a plan to generate $200 billion annually by 2030. This ambitious initiative aims to halt and reverse the ongoing destruction of the natural world.

The COP16 talks, initially launched in Colombia last October, failed to secure consensus on key aspects. However, recent agreements, driven by the BRICS nations, highlight a newfound commitment to protecting biodiversity despite political fragmentation.

The agreement also outlines measures to implement the Kunming-Montreal Global Biodiversity Framework and includes technical rules for monitoring. Developing countries expressed optimism, and efforts will continue to address funding gaps to meet biodiversity targets.

(With inputs from agencies.)