A major biodiversity fund aimed at securing annual contributions from pharmaceutical companies to support conservation efforts in low-income countries has fallen far short of its $1 billion target, despite its reliance on businesses profiting from natural resources. Critics argue that drug firms are benefiting from nature’s genetic materials without adequately investing back into its protection. Launched over a year ago, the fund has struggled to attract meaningful financial support, raising concerns about corporate responsibility in conservation. The shortfall highlights a growing divide between industry profits and global biodiversity commitments.
The Cali Fund, set up to raise $1bn a year for biodiversity from drug companies, remains near emptyBig pharmaceutical companies have been accused of “free-riding on nature”, after a landmark biodiversity fund that invites businesses to put some of their profits back into conservation was left virtually empty.The Cali Fund set out to raise $1bn (£750m) annually, by asking companies that profit from nature’s genetics to contribute towards conservation in low-income countries. But more than 18 months after the fund was launched, it remains far below this target. Continue reading...
