Wealthy nations commit $200 billion for biodiversity conservation

Rich and developing countries reached a US$200 billion deal for biodiversity conservation during UN talks in Rome. This agreement follows a previous unsuccessful meeting in Colombia and aims to secure funding and establish institutions for delivering financial support. The deal includes commitments for wealthier nations to provide US$20 billion annually to poorer countries by 2025, increasing to US$30 billion by 2030. Countries also agreed to seek additional funding sources and reduce harmful subsidies by at least US$500 billion per year by 2030. Discussions on creating a new fund for developing nations were unresolved, leaving the decision for future talks in 2028. The agreement also includes measures for monitoring progress on biodiversity targets and sharing profits from genetic data with local communities.