MOSCOW (Pakistan Point News / Sputnik - 17th February, 2023) The United Kingdom will host a major multinational event in London on Friday in order to drive forward private financing for the Global Biodiversity Framework deal, sealed at the 15th meeting of the Conference of the Parties (COP15), the UK government has said.
"The UK will bring together foreign governments, philanthropy and business leaders to drive forward action to protect and restore nature at an event taking place today (17 February 2023) at Lancaster House, London. The event will help drive delivery of the deal agreed by almost 200 countries at the UN Nature summit in Montreal in December (COP15), which included a framework requiring countries to halt and reverse biodiversity loss by 2030 and to protect 30% of the world's land and ocean by the same date," the UK government said in a statement.
The framework requires a significant increase in the amount of funds invested in the fight against nature loss and the restoration of threatened habitats such as mangroves, rainforests and grasslands, the statement read. The deal set out a target to mobilize $200 billion per year globally by 2030, including $20 billion in the form of flows to developing countries by 2025, increasing to $30 billion by 2030, the UK government specified.
The event will bring together environment ministers from various countries, including France and United States, as well as business leaders and financiers, and will focus on details of how financed projects can provide benefits for both people and nature, the statement added.
"We must keep up the momentum on the progress made so far, and it is by working together across the international community that we will identify and deliver the solutions needed to safeguard our environment for our children, grandchildren and generations beyond," UK Prime Minister Rishi Sunak said, commenting on the upcoming event.
COP15 was hosted in Canada's Montreal from December 7-19, 2022. The new agreement was supported by 196 member states of the UN Convention on Biological Diversity.
