PRAYAGRAJ EXPRESS
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China launches biodiversity fund

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China on Tuesday pledged to inject $233 million into a brand new fund to guard biodiversity in growing nations throughout a key UN conservation summit, regardless of disagreements amongst main donors on the initiative.

Beijing — the world’s largest polluter — has sought to play a extra outstanding position internationally on biodiversity conservation lately.

Its pledge got here as delegates from about 195 nations gathered within the southern Chinese metropolis of Kunming for the primary of a two-part summit on safeguarding crops, animals and ecosystems.

The summit goals to determine a brand new accord setting out targets for 2030 and 2050. “China will take the lead in establishing the Kunming biodiversity fund with a capital contribution of 1.5 billion yuan ($233 million) to support the cause of biodiversity conservation in developing countries,” Chinese President Xi Jinping stated throughout a speech delivered through video hyperlink on the COP15 leaders’ summit.

“China calls on… all parties to contribute to the fund.”

‘30 by 30’ agenda

A key proposal being debated on the convention is the “30 by 30” agenda that may afford 30% of the Earth’s land and oceans protected standing by 2030.

Global spending to guard and restore nature must triple this decade to about $350 billion yearly by 2030 and $536 billion by 2050 to fulfill this goal, a UN report stated in May.

But some wealthy nation donors say a brand new fund for conservation is pointless as a result of the United Nations’ Global Environment Facility already helps growing nations finance inexperienced tasks.

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