Tag Archives: International Monetary Fund

Mongabay: COP16/CBD — Global biodiversity financiers strategize at COP16 to end ‘perverse subsidies’

The 16th United Nations biodiversity summit, called COP16, is being held in Cali, Colombia, near the country’s mountainous Pacific coast. The motto for the meeting is also its goal: Paz con la Naturaleza — Peace with Nature. Image by Justin Catanoso for Mongabay.


Since 2014, I’ve covered seven of the last nice United Nations climate summits, the last one in Glasgow, Scotland, during the pandemic, in 2021. In 2024, I decided against traveling to Baku, Azerbaijan, for COP29, and go south instead, to Cali, Columbia, to cover my first UN Convention on Biological Diversity, the 16th such biennial Conference of the Parties. I’m glad I did.

COP16 is a far smaller meeting than any of the climate COPs I’ve covered, with 23,000 attendees instead of the 50,000 in Glasgow and more than 100,000 in 2023 in Dubai. The venue outside of Cali felt spacious and easier to navigate. The pace was significantly less harried. The two media centers were conveniently located not far from the entrance, and the press conference room was nearby (the last several climate meetings seemed intent on locating journalists are far from their sources and press conference rooms as physically possible). Some drawbacks: fewer NGOs provided daily briefings of the day-before’s happenings and fewer contextual press conferences were held until the very end. This made it difficult for this newcomer to the CBD to get a handle on what was happening. But with some diligent (perhaps manic) sourcing, I moved up the learning curve and spotted stories I needed to pursue.

Here’s my first one, which I started reporting on before I left for Colombia: a daylong, side event that focused on a crucial element of the CBD agreement approved during COP15 (in Montreal in 2022) — a vow to identify the more than $1.7 trillion paid out in subsidies and tax breaks that actually harm and destroy forests, oceans and species ($650 billion to fossil fuel companies alone), and redirect that money to conservation initiatives. The morning session produced a clear and substantive panel discussion, with a keynote speech by a British member of parliament, Barry Gardiner. He has been pushing back for a decade against the UK subsides paid to Drax ($1 billion annually) to burn wood pellets largely from North Carolina. I’ve heard about him for years. It was a pleasure to finally hear him speak and talk with him afterwards. My first few days in Cali — the lush, friendly home of salsa dancing — proved a solid start to my week at COP16.

Barry Gardiner, a Labour Party member of the British Parliament since 1997, was the keynote speaker on Sunday, Oct. 27, at a daylong meeting to discuss concrete plans to phase out $1.7 trillion in global economic subsidies known to cause environmental damage around the world. The trick of course, will be getting it done. Image by Justin Catanoso for Mongabay.