Discussions are still ongoing on key issues on the last day of the UN biological conference in Colombia

CALI, Colombia (AP) – At a United Nations conference on biodiversity in Colombia, negotiators struggled to find consensus on key issues.

These include a way to finance the protection of 30% of the world's flora and fauna by 2030, a way to establish a sustainable organization of Indigenous peoples and a way to pay for environmental genetic data used to create commercial products.

The two-week summit, known as COP16, was supposed to wrap up on Friday, although observers say talks could go into the weekend.

In 2022, the biological conference in Montreal, COP15, established a framework for countries to continue to save the degradation of ecosystems around the world. This year's next conference was to present the plans.

“COP15 was about the 'what'; this should have been the 'how,'” Georgina Chandler, head of policy and campaigns at the Zoological Society of London, told the Associated Press.

Rich countries pledged at the Montreal conference to raise $20 billion in annual conservation funds for developing countries by 2025 – rising to $30 billion a year by 2030.

“I don't think we've ever seen governments come here and commit to $20 billion that's significant enough to make it happen,” Chandler said.

The lack of financial commitments from rich countries has made 20 ministers of the Global South issue a joint statement calling for the need to build trust between nations and for the Global North to meet its financial goals.

Ahead of the talks, more than 230 businesses and financial institutions are looking for strong ambitions for a policy to deal with the growing risks of environmental loss, said Eva Zabey, CEO of Business for Nature.

“At the end of COP16, negotiations remain on key issues – including mobilizing sound financial resources and how companies can ensure that environmental benefits are valued and shared fairly,” Zabey said.

“We need governments to put aside their differences and show real and urgent leadership to deliver a strong COP16 outcome that motivates and drives the necessary corporate action, consistently and quickly, to stop and reverse environmental loss by 2030,” he said.

Who owns natural DNA was a major topic at the conference. There has been tension between poor and developed countries regarding digital sequencing information in genetic resources (DSI). This would obligate the sharing of benefits when genetic resources from animals, plants or insects are used in biotechnologies. In Montreal, countries agreed to establish a global fund.

“The DSI fund should have been received here two years ago. It is not clear how the money will be collected from the companies,” said Oscar Soria, director of The Common Initiative. “As the text reads it is only voluntary.”

Sources told the AP that there has been significant back-and-forth over the wording of the agreement being drafted by the nations.

“It is clear that several points are moving forward in the COP16 negotiations,” said Catherine Weller, Director of Global Policy at Fauna & Flora.

One of the main points of contention during the talks was the ban by several countries on the Permanent Subsidiary Body for Indigenous Peoples and local communities, which Weller said brought important insight to many of the discussions.

“We urge the negotiators to stand up and ensure that this is completed,” he said.

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