Xi pledges US$232m to global biodiversity fund

World | 13 Oct 2021

President Xi Jinping announced the launch of a US$232-million (HK$1.81 billion) fund yesterday to support biodiversity protection in developing countries, as talks continue on a new post-2020 global pact to tackle species loss.

Xi was virtually addressing the COP15 biodiversity summit in Kunming, China, where diplomats, scientists and conservationists are meeting to lay the groundwork for a global agreement to halt and reverse the destruction of nature, set to be finalized in May.

"Developing countries need help and support and solidarity must be strengthened to allow developing countries to benefit in a fairer way," Xi said.

Experts have said it will take an estimated US$1 trillion a year to build sustainable supply chains and help countries protect nature in other ways - far more than the US$150 billion spent on such action in 2019.

Xi said the Kunming Biodiversity Fund would also welcome contributions from other parties.

But experts say new sources of funding is only one part of the solution.

REUTERS



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