Monica Medina, Arnhold Distinguished Fellow at Conservation International and former US Special Envoy for Biodiversity, joins a lively discussion about biodiversity at the COP negotiations in Colombia. She highlights the critical link between climate and biodiversity and shares her optimism about a new oceans fund. The conversation dives into the importance of indigenous participation and fair compensation for genetic resources, emphasizing the need for integrated approaches to environmental stewardship and financial support for local communities.
The Biodiversity COP emphasizes the crucial role of indigenous communities in conservation, advocating for equitable financial support and greater participation in negotiations.
Over 3,000 businesses at the COP signify a shift towards emotional engagement with biodiversity, highlighting the urgent need for sustainable financial practices despite current challenges.
Deep dives
The Unique Vibe of Biodiversity COP
The Biodiversity COP in Cali, Colombia, presents a different atmosphere compared to climate-focused meetings. Attendees report a much smaller, more intimate setting where negotiations dominate the agenda, leading to a sense of humility and collaboration among participants. Unlike climate COPs filled with external activities and distractions, this event emphasizes genuine engagement with biodiversity issues, prompting a clear commitment to reversing biodiversity loss. The presence of diverse stakeholders, including indigenous communities, enhances this collaborative spirit, fostering a shared mission to protect nature.
Indigenous Peoples: Key Stewards of Biodiversity
Indigenous peoples play a crucial role in biodiversity conservation, managing a significant portion of the planet’s ecosystems despite receiving minimal resources. Their leadership and expertise in environmental stewardship have been recognized as essential for effective biodiversity protection, with calls for greater financial support and direct access to funds. The stark contrast between the resources allocated to indigenous communities versus their contributions to biodiversity conservation highlights systemic inequities. This recognition has prompted discussions within the COP about enhancing indigenous participation in negotiations and securing their financial rights to the benefits derived from their stewardship.
The Intersection of Business and Biodiversity
The presence of over 3,000 businesses at the Biodiversity COP marks a notable shift in the conversation surrounding nature and financial commitments. Companies are increasingly using more relatable language, focusing on emotional connections to nature rather than the technical jargon often found in climate discussions. This growing acknowledgment of biodiversity’s importance stems from regulatory pressures and the understanding that sustainable practices can also lead to investment opportunities. Despite progress, the statistics remain troubling, as only a small fraction of financial institutions has implemented concrete policies to address deforestation, underscoring the need for immediate action.
Financial Mechanisms for Nature Conservation
The conversation around funding for biodiversity conservation reveals significant challenges, particularly regarding financial mechanisms accessible to indigenous peoples. As negotiations progress, there is an urgent need for innovative solutions to ensure that financial benefits from biodiversity are fairly distributed, addressing both the stewardship role of indigenous populations and the exploitation of genetic resources. While discussions have acknowledged the necessity for a robust funding framework for nature, the effectiveness and management of existing funds remain in question. A critical aspect of this dialogue includes evaluating the sustainability of current practices to ensure that investments align with long-term conservation goals.
This week, Christiana has a fascinating window into the Biodiversity COP negotiations underway in Colombia. From Cali, she’s joined by Freya Newman and Irene Suarez Perez from the Global Optimism team who give us the lowdown into what’s going on inside and outside the negotiating rooms. They tell what’s unique about Colombia hosting, how it’s given a platform to indigenous and local community voices; and why business is talking about love as well as finance.
Also joining Christiana from Cali is Monica Medina, a fellow with Conservation International and the US’ first Special Envoy for Biodiversity. They have an animated chat about the essential interdependence of climate and biodiversity, and Medina shares her optimism about a new oceans fund. And they take a deep (and refreshingly nerdy!) dive into DSI - digital sequencing information - and how we can ensure lucrative genetic codes, often found in the Global South, are fairly compensated and reimbursed.
NOTES AND RESOURCES
GUESTS
Monica Medina, Arnhold Distinguished Fellow at Conservation International, former Assistant Secretary of State for Oceans, Environment and Science and the first US Special Envoy for Biodiversity and Water Resources