Hyderabad: Capping intense and protracted negotiations, the Convention on Biological Diversity agreed to double biodiversity related funding to developing countries for implementing its goals on conservation. (Agencies)
Developed countries agreed to double funding to support efforts in developing states towards meeting internationally- agreed biodiversity targets and the main goals of Strategic Plan for Biodiversity 2011-2020, a statement issued by the CBD said.
Using a baseline figure of the average annual national spending on biodiversity between 2006 and 2010, developed countries said they would double biodiversity-related international financial flows by 2015.
The Conference of Parties (COP) also set targets to increase the number of countries that have included biodiversity in their national development plans, and prepared national financial plans for biodiversity, by 2015, it said.
All parties agreed to substantially increase domestic expenditures for biodiversity protection over the same period. These targets and progress towards them will be reviewed in 2014, it said.
The breakthrough came after several hours of negotiations to reach an agreement on the issue of resource mobilization (biodiversity funding), which had been the bone of contention during the conference.
The Plenary of the conference began yesterday evening to adopt the decisions but it had to take a break soon to enable the negotiators to thrash out an agreement on the delicate issue of funding.
The funding issue cast its shadow on other matters as well when they were taken up for adoption at the Plenary.
With the EU and some others raising objections to certain parts of documents, matters concerning resource mobilization, ecosystems restoration, capacity building and the budget of the convention were kept pending by Union Environment Minister Jayanthi Natarajan, who chaired the Plenary in her capacity as the president of the CBD, for consideration later before announcing the break.
Hyderabad: Capping intense and protracted negotiations, the Convention on Biological Diversity agreed to double biodiversity related funding to developing countries for implementing its goals on conservation.