COP15: India pushes for dedicated fund for biodiversity conservation

Environment Minister Bhupender Yadav has said that reversing ecosystem degradation and halting global biodiversity loss are essential for the socio-economic development and well-being of people, and for advancing global sustainability. He said India is working towards restoring and conserving its rich biodiversity, which includes one of the world’s richest mix of flora and fauna.  The Minister stated this while addressing the stocktaking plenary at the UN Biodiversity Conference, COP15 in Montreal, Canada on Saturday.

Addressing the stocktaking plenary at the UN Biodiversity Conference, COP15 in Montreal, Canada https://t.co/A1WgIm69UY

— Bhupender Yadav (@byadavbjp) December 17, 2022

He reiterated that for developing nations, agriculture is a paramount economic driver for rural communities, and the critical support provided to these sectors cannot be redirected. The majority of the rural population in India is dependent on agriculture and allied sectors and the Narendra Modi government provides a variety of subsidies for supporting the livelihoods of farmers. Hence, India does not agree to reducing the agriculture-related subsidy and redirecting the savings to biodiversity conservation, as there are many other national priorities. There is an urgent need to create a new and dedicated fund to help developing countries successfully implement a post-2020 global framework to halt and reverse biodiversity loss, he said.