China on Sunday (December 18) proposed a text that will likely shape any agreement on conserving the world’s wild places and species. United Nations negotiations on a new global deal are in their final 48 hours.
The presidency of the Montreal summit is held by China, which is responsible for releasing the draft text, based on the last two weeks of negotiations, as the best compromise for parties to discuss going forward.
Ministers from nearly 200 governments are expected to hammer out the details of the global deal by Monday. There is a hope that this will provide a framework to conserve nature through 2030s.
The text contains 23 targets. It reflects consensus on protecting 30 per cent of land and coastal and marine areas by 2030. The target is informally known as 30-by-30.
Developing countries were pushing for half of that – $100 billion per year – to flow from wealthy countries to poorer nations.
It also notes that the money can come voluntarily from any country – a nod to developed nations’ desire that countries with large economies, such as China and Brazil, also contribute funds.
One of the greatest points of contention among delegates has been whether a new fund should be established for that money. On Wednesday morning, developing country negotiators walked out of a financing meeting in protest. The draft does not mention setting up a new facility.
(With inputs from agencies)