UN chief urges rich countries to provide bold financial support

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UN chief urges rich countries to provide bold financial support

UN Secretary-General Antonio Guterres said on Tuesday that developed countries must provide bold financial support for the countries of the Global South as custodians of the world's natural wealth.

Guterres said international financial institutions and multilateral development banks must align their portfolios with the conservation and sustainable use of biodiversity at the beginning of the 15th meeting of the Conference of the Parties COP 15 to the UN Convention on Biological DiversityUN Convention on Biological Diversity.

He said that we cannot expect developing countries to shoulder the burden alone.

The secretary-general said national plans should be put in place that would divert subsidies and tax breaks away from activities that can destroy nature, as well as recognize and protect the rights of indigenous peoples and local communities.

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He argued that the private sector should recognize that profit and protection go hand-in-hand.

It is up to us to accept responsibility for the damage we have caused and take action to fix it. The secretary-general said there was no Planet B, despite the deluded dreams of billionaires.

Canadian Prime Minister Justin Trudeau announced at the ceremony that Canada will provide a new contribution of 350 million Canadian dollars $256 million to support developing countries in the fight against climate change.

During the ceremony, a Chinese ecology and environment minister, Huang Runqiu, said that China will continue to exert its leadership, promoting substantial results in negotiations on the post-2020 global biodiversity framework.

The second part of COP 15 will kick off on Wednesday after the first phase of the first phase held last year in the Chinese city of Kunming. Under the theme of Ecological Civilization: Building a Shared Future for All Life on Earth, negotiators will set new targets and goals that will stop the destruction of nature due to human activity.