Leader meetings
Landmark biodiversity fund collapses with just $7,085 raised
PARIS: Conceived at the 2024 Biodiversity COP, the Cali Fund was meant to raise billions of dollars for nature protection — but has so far only collected $7,085. It is a sluggish start for a fund intended as a showcase for innovative financing that charges companies profiting from the use of genetic data derived from nature. The trickle of money highlights the difficulties involved in mobilising money for biodiversity. As a crucial UN biodiversity summit in Armenia running until Oct 30 discusses its future, here’s a rundown on how the fund works and reasons for its lacklustre start: How does t