COP17 Biodiversity: Financial negotiations remain deadlocked as three countries backtrack

In the second week of COP17 on biodiversity in Armenia, representatives of nearly 200 states have yet to reach a decisive agreement on funding to halt nature’s destruction by 2030. Saudi Arabia, China and Brazil oppose being included among the countries expected to contribute to financial transfers from the Global North to the Global South. Negotiators are also considering guidance on production and consumption patterns and the removal of subsidies harmful to biodiversity. Improving the Cali Fund, which seeks to mobilize resources from companies using digital sequence information derived from nature, is another contentious issue.