LONDON, United Kingdom — The Philippines called for the creation of a fund for Earth’s biodiversity at the COP15 summit in Montreal as it highlighted the need to invest in the protection of land and sea.
A draft COP15 deal calls on wealthy nations to increase financial aid to developing countries to $20 billion annually by 2025, increasing to $30 billion per year by 2030. Developing nations were pushing for $100 billion per year.
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Current financial flows to the developing world—home to most of the planet’s biodiversity—are estimated at around $10 billion per year.
“The Philippines envisions a future where biodiversity is restored and maintained to sustain healthy, resilient Filipino communities while delivering benefits to all,” said environment chief Maria Antonio Yulo-Loyzaga in a speech Saturday. A copy of the statement was sent to media on Monday.
Yulo-Loyzaga is the country’s head of delegation to COP15.
The Philippines is one of the world’s most megadiverse countries and hosts the center of the center of global marine biodiversity.
“We are, however, compelled to address the intersecting crises of biodiversity loss, climate change and inclusive to achieve resilient, and sustainable development,” Yulo-Loyzaga said.
She added the Philippines will invest in “urgent and transformative change and one day hope to host a [biodiversity] COP in Manila.”
30x30 goal
The draft also calls for the protection of 30% of the world’s land and sea by the end of this decade. Called the 30x30 target, it is seen to help address biodiversity loss but also combat climate change.
The Philippines is a member of the High Ambition Coalition for Nature and People, which champions the ambitious 30x30 target.
Jamie Dichaves, campaign lead of 30x30 Southeast Asia, stressed that critical targets “that will put us on the path to recovery, ultimately affecting our own species’ very survival” are being tackled in Montreal.
Dichaves added that biodiversity loss is a big and urgent threat.
“More than half of global gross domestic product relies on healthy functioning ecosystems, providing multiple contributions to people beyond the usual ecosystem services we are able to place dollar signs on,” she said.
The draft also includes a language safeguarding the rights of indigenous peoples as stewards of their lands, which is a key demand from campaigners.
The text still needs to be agreed upon by the 196 signatories to the Convention of Biological Diversity before it is finalized. — with report from Agence France Presse