Economy

Global biodiversity meet: Resource, funding mechanisms likely to be finalised today

M. Somasekhar Hyderabad | Updated on October 19, 2012

Ministers from 77 nations are engaged in intense negotiations to arrive at a consensus on two critical aspects to conserve global biodiversity — resource mobilisation and financial mechanism.

The last day of the 19-day Convention on Biological Biodiversity (CBD), promises high drama, as close door discussions among working groups, expert panels have preceded the final meeting among ministers to hammer out a way forward by translating commitments made at Nagoya, Japan in 2010 into funding proposals.

The spokesperson for the CBD told newspersons that the Hyderabad meeting is being held in the background of expectations, among other issues, of setting a target for resource mobilisation, after nations agreed to move forward in Nagoya. Most decisions are at the negotiation stage, he said.

India, as host nation and President for the next two years, has made a commitment of $50 million, as announced by Prime Minister, Manmohan Singh. Similarly, Germany continues its level of funding fro the coming years, he stated.

There have been some decisions with regard to eco-system restoration, on alien species, climate-related geo-engineering. With reference to ‘synthetic biology’, the meeting felt that Governments should take precautionary measures, while not advocating a ban.

The Meeting of Parties (MoP) and Conference of Parties (CoP-11), as part of the CBD began on October 1 at Hyderabad. A charter of outcomes, especially those related to resource and funding mechanisms are expected to be finalised at the end of, what promises to be a long day.

Somasekhar.m@thehindu.co.in

Published on October 19, 2012

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