UNDP Urges Redirecting Trillions to Save Nature at COP16

At the UN biodiversity conference (COP16) in Cali, Colombia, governments are scrambling to secure $700 billion annually to tackle the global nature crisis. But here’s the twist: Countries are spending six times that amount on subsidies harming the planet —think fossil fuels, unsustainable agriculture, and overfishing.

The Subsidy Problem No One’s Talking About

Think of harmful subsidies as a 'hidden drain' on funding that could save ecosystems instead of destroying them. UN Assistant Secretary General Marcos Neto of the UNDP told us: 'Redirecting this money isn’t just smart—it’s urgent.' The UNDP is rolling out a roadmap to help nations flip the script, reallocating funds to protect biodiversity while still supporting industries.

From Fishing Nets to Safety Nets

The plan? Shift subsidies from polluting sectors to programs that restore forests, safeguard oceans, and promote eco-friendly farming. Neto emphasized this isn’t about cutting budgets but spending smarter: 'We’re talking about a win-win for economies and ecosystems.'

With global wildlife populations plummeting and climate disasters rising, COP16 could be the moment countries finally turn subsidies from villains into heroes . Will governments bite? The planet’s counting on it.

Reference(s):

UNDP on impact of subsidies on biodiversity loss

cgtn.com