Current Affairs - Environment - Discussion

COP16, the 16th Conference of the Parties to the Convention on Biological Diversity (CBD), was held in Rome, where global leaders committed to securing $200 billion annually to protect biodiversity and implement the Kunming-Montreal Global Biodiversity Framework. The agreement also included the establishment of the Cali Fund to ensure fair benefit-sharing from genetic resource data. Additionally, the Global Environment Facility (GEF) allocated over $3 billion, leveraging a total of $22 billion for biodiversity conservation efforts worldwide.