NAIROBI: Wealthy countries should provide at least $60 billion every year to the world’s poorest nations to combat biodiversity loss, an alliance of environment groups said on Tuesday.

The appeal by WWF, the International Union for Conservation of Nature (IUCN) and other green groups was launched on the sidelines of a major UN environment meeting in Nairobi.

It comes ahead of key talks for a UN biodiversity summit to be held in China that will see nations hammer out conservation targets for the next decade.

The $60bn would address “the disproportionate impact of wealthy country consumption habits on biodiversity,” the signatories said in a joint statement.

“Wealthy nations are driving much of the loss of nature in developing countries through imported goods and have a responsibility to address this impact,” said Brian O’Donnell, director of Campaign for Nature.

Some $844bn annually is needed to address the loss of biodiversity and nature — some $711bn more than is being spent today, the NGOs said.

A boost in financial assistance should go hand in glove with an end to public and private investment that damages the environment, said Marco Lambertini from WWF.

“It is feasible. It requires political will to make it happen,” Lambertini said of the $60bn target. “It is not a tax for biodiversity. This is an investment” and made clear business sense, he added. A pledge by wealthy nations to provide the developing world with $100bn annually to deal with the climate crisis has not been fulfilled.

Published in Dawn, March 2nd, 2022