Clock ticking down on vital UN nature talks

MONTREAL: Crucial UN talks aimed at sealing a "peace pact for nature" were entering their final stages Saturday, officially the last day the world's environment ministers are gathered in Montreal for the COP15 meeting.

Whether they deliver a deal for biodiversity that is as ambitious as the Paris accord for climate, endorse a watered-down text, or fail to agree on anything at all remains to be seen, though there are strong signs the negotiations set to last until December 19 will run beyond the allotted time.

With the clock ticking down, over 3,000 scientists wrote an open letter to policymakers, calling for immediate action to stop the destruction of critical ecosystems.

"We owe this to ourselves and to future generations -- we can't wait any longer," they said.

At stake is the future of the planet and whether humanity can roll back habitat destruction, pollution and the climate crisis, which are threatening an estimated million plant and animal species with extinction.

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The text is meant to be a roadmap for nations to follow that carries them through until 2030, after the last 10-year plan signed in Japan failed to achieve any of its objectives, widely blamed on its lack of monitoring mechanisms.

Major draft goals include a cornerstone pledge to protect 30 percent of the world's land and oceans by 2030, which is compared to the Paris deal commitment to hold long-term planetary warming by 1.5 degrees Celsius or at least to 2C.

In all, there are more than 20 targets, including reducing environmentally destructive subsidies of agriculture, obliging businesses to assess and report on their biodiversity impacts, and tackling the scourge of invasive species.

The thorny issue of how much money the global north will send to the global south to help preserve their ecosystems has emerged as the biggest sticking point.

Several countries have announced new commitments either at the COP or recently, with Europe emerging as a key leader. The European Union has committed seven billion euros for the period until 2027, double its prior pledge.

But these commitments are still well short of what observers say is needed, and what developing countries are seeking.

Brazil has led that charge, proposing flows of $100 billion annually, compared to the roughly $10 billion at present.

But France has hit back, saying developed countries will only step up funding if developing countries agree to more ambitious plans, including on reducing pesticide use that agro industries in the global south use heavily.

"We cannot have on hand some tears for species but no real commitments at the end of this COP," French environment minister Christophe Bechu said Friday.

Whether international aid is delivered via a new fund, an existing mechanism called the Global Environment Facility, or a halfway solution involving a new "trust fund" within the GEF, is still up for debate.