The 16th Conference of the Parties to the UN Convention on Biological Diversity (CBD-COP16) concluded on 2nd November 2024 in Cali, Colombia.
Cali fund:
- COP16 delegates decided to create Cali fund for collecting economic resources from the use digital sequence information (DSI)– genetic codes coming from organism samples that are often shared digitally – and its and fair, equitable distribution.
- Under the agreed guidelines, large companies and other major entities benefiting commercially from DSI uses should contribute to “the Cali Fund,” based on a percentage of their profits or revenues.
- The model targets larger companies most reliant on DSI and exempts academic, public research institutions and other entities using DSI but not directly benefiting.
- Developing world countries will benefit from a large part of this fund, with allocations to support implementation of the KMGBF, according to the priorities of those governments.
- At least half of the funding is expected to support the self-identified needs of indigenous peoples and local communities.
- Some funds may support capacity building and technology transfer. Strong monitoring and reporting will ensure industries see the impact of their contributions in a transparent and open way, and regular reviews will build the mechanism’s efficiency and efficacy over time.
- This agreement marks a precedent for benefit-sharing in biodiversity conservation with a fund designed to return some of the proceeds from the use of biodiversity to protect and restore nature where help is needed most.
Permanent body for Indigenous peoples
- The summit approved a measure to create a permanent body for Indigenous peoples to consult on United Nations decisions on nature conservation.
- The consultative body is considered a breakthrough in recognising the role that Indigenous peoples play in conserving nature globally, including some of the most biodiverse areas of the planet, according to Indigenous and environmental advocates.
- At the summit, the Group on Earth Observations (GEO), a partnership of more than 100 national governments and over 150 participating organizations, launched the official proof of concept for the Global Ecosystems Atlas, an open-access resource for mapping and monitoring ecosystems.
