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COP-15 Historical Deal of Convention on Biodiversity
Dec 21, 2022
Enhance your UPSC CSE preparation with our daily dose of Current Affairs wherein we discuss topics that make news at National and International level. In today's edition of our Current Affairs, we will discuss COP-15 Historical Deal of Convention on Biodiversity. The topic's relevance to the UPSC CSE syllabus is mentioned below.
Key features of the deal, the importance of the Convention on Biodiversity, and Biodiversity
Recently concluded COP-15 of the Convention on Biodiversity has inked a historical deal to save the biodiversity of the earth.
How does biodiversity vary in India? How is the Biological Diversity Act 2002 helpful in the conservation of flora and fauna? (UPSC Mains 2018)
About the COP-15 Historic Deal
Negotiators reached a historic deal at UN Biodiversity Conference that represents a significant effort to protect the world’s lands and oceans and provide critical financing to save biodiversity in the developing world.
The framework was signed on the last day of COP-15 at Montreal which was presided over by China.
Key Features of COP-15 Historic Deal
Delegates committed to protecting 30% of land and 30% of coastal and marine areas by 2030, fulfilling the deal’s highest-profile goal, known as 30-by-30.
Indigenous and traditional territories will also count toward this goal, as many countries and campaigners pushed for during the talks.
The deal also aspires to restore 30% of degraded lands and waters throughout the decade, up from an earlier aim of 20%.
The world will strive to prevent destroying intact landscapes and areas with a lot of species, bringing those losses “close to zero by 2030”.
Money for nature
Signatories aims to ensure $200 billion per year is channeled to conservation initiatives, from public and private sources.
Wealthier countries should contribute at least $20 billion of this every year by 2025, and at least $30 billion a year by 2030.
Big companies report impacts on biodiversity
Companies should analyze and report how their operations affect and are affected by biodiversity issues.
The parties agreed to large companies and financial institutions being subject to “requirements” to make disclosures regarding their operations, supply chains and portfolios.
This reporting is intended to progressively promote biodiversity, reduce the risks posed to businesses by the natural world, and encourage sustainable production.
Countries committed to identifying subsidies that deplete biodiversity by 2025, and then eliminate, phase out or reform them.
They agreed to slash those incentives by at least $500 billion a year by 2030, and increase incentives that are positive for conservation.
Pollution and pesticides
The deal focuses on the risks associated with pesticides and highly hazardous chemicals, pledging to reduce those threats by “at least half”, and instead focusing on other forms of pest management.
Monitoring and reporting progress
All the agreed aims will be supported by processes to monitor progress in the future, in a bid to prevent this agreement from meeting the same fate as similar targets that were agreed in Aichi, Japan, in 2010, and never met.
National action plans will be set and reviewed, following a similar format used for greenhouse gas emissions under U.N.-led efforts to curb climate change.
About Convention on Biodiversity: • It is a legally binding treaty signed by all the nations (except US) in 1993. • It has 3 main objectives; the conservation of biological diversity, the sustainable use of the components of biological diversity and the fair and equitable sharing of the benefits arising from using genetic resources. • It has a secretariat in Montreal. • The Parties to the treaty meet at regular intervals as COP. • Montreal Protocol on Biosafety was signed under CBD in 2000 which aims to protect biodiversity from potential risks posed by living modified organisms. • At the COP10 conference in Nagoya, Japan, in 2010, the Nagoya Protocol on Access to Genetic Resources and the Fair and Equitable Sharing of Benefits Arising from their Utilization (ABS) was adopted. • The Aichi Targets for biodiversity are a collection of 20 challenging but attainable goals that are officially known as the "Strategic Plan for Biodiversity 2011-2020". • India passed the Biological Diversity Act in 2002 to implement the CBD's provisions.
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