The agreement at COP16 represents a significant milestone in biodiversity conservation efforts by establishing a fund where companies profiting from genetic resources must contribute.
As we move forward, it's crucial that this new fund generates substantial financial support for conservation, potentially raising up to $1 billion annually.
The final declaration of the fund is voluntary, yet emphasizes the importance of companies paying for their use of biodiversity, a long-awaited acknowledgment.
Importantly, half of the fund's allocations will be directed towards Indigenous peoples, recognizing their vital role as custodians of biodiversity.
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