China pledges $233m to global biodiversity fund

195 nations to gather for summit on safeguarding plants, animals, ecosystem

China yesterday pledged to inject $233 million into a new fund to protect biodiversity in developing countries during a key UN conservation summit, despite disagreements among major donors on the initiative.

Beijing has sought to play a more prominent role internationally on biodiversity conservation in recent years.

Its pledge came as delegates from about 195 countries gathered in the southern Chinese city of Kunming for the first of a two-part summit on safeguarding plants, animals and ecosystems.

New targets

The summit aims to establish a new accord setting out targets for 2050 and 2030.

“China will take the lead in establishing the Kunming biodiversity fund with a capital contribution of 1.5 billion yuan ($233 million) to support the cause of biodiversity conservation in developing countries,” Chinese President Xi Jinping said during a speech at the COP15 conference yesterday.

A key proposal being debated at the conference is the “30 by 30” agenda that would afford 30 per cent of the Earth’s land and oceans protected status by 2030.

Global spending to protect and restore nature needs to triple this decade to about $350 billion annually by 2030 and $536 billion by 2050 to meet this target, a UN report said in May.

But some rich country donors say a new fund for conservation is unnecessary because the United Nations’ Global Environment Facility already helps developing nations finance green projects.

The funding issue will be taken up at talks in Geneva in January 2022 and then later at the second part of the summit in April and May next year.