Highlights and images for 16 August 2024

Will the new mechanism promote implementation of fair and equitable benefit-sharing? Will it help bridge the finance gap of USD 700 billion per year and reverse biodiversity loss? Will it enhance fairness and equity in biotechnological research and development?

On the final day of deliberations, delegates continued text-based negotiations on several aspects of the multilateral benefit-sharing mechanism from use of digital sequence information (DSI), including a global fund. Discussions came to an end, and the heavily bracketed outcome will be forwarded to the 16th meeting of the Conference of the Parties (COP 16), which will meet in October 2024, in Cali, Colombia.

The day’s negotiations addressed issues related to disbursement of funding and its host institution. In a preview of the debates to be held at the upcoming COP 16, developed and developing countries disagreed on the suitability of the Global Environment Facility as a host of the global fund. Brazil stressed that the global financial governance structure favors developed countries and does not allow adequate representation by some of the world’s most megadiverse countries.

Throughout the day, Working Group participants highlighted achievements and contemplated the challenges to be addressed by COP 16. They noted in particular how the robust technical work and the convivial atmosphere enabled fruitful negotiations. Technical work has resulted in a better understanding of the issues’ complexities and interlinkages with other processes. Intense intersessional work has allowed participants to get to know each other, understand positions, and acquire ownership of the process. These, combined with able and charming chairing by Co-Chairs Martha Mphatso Kalemba (Malawi) and William Lockhart (UK), built an atmosphere conducive to mutual understanding and compromise.

As challenges remain and political decisions are needed, many left the conference venue hopeful that this atmosphere will continue at COP 16. Delegates need to reach agreement on core issues, including the basis for monetary benefit-sharing contributions by DSI users to the global fund, and the methodology and criteria for funding allocation. Importantly, national-level measures are needed to ensure users’ contributions to the fund, so political will is of utmost importance. The work to date has ensured that all the options are on the table to reach political agreement.

In closing remarks, Astrid Schomaker, Executive Secretary, Convention on Biological Diversity, lauded the quality and depth of the negotiations and the remarkable facilitation by the Co-Chairs. She thanked participants for delivering a robust outcome navigating a wide spectrum of policy options, noting that “the ship has never been closer to port.”

Working Group Chair Ning Liu (China) welcomed the progress towards agreeing on the modalities of the multilateral benefit-sharing mechanism and its global fund. He closed the meeting at 8:58 pm.