Big pharma’s failure to fund the Cali Fund exposes a critical gap in biodiversity conservation, leaving low-income countries without promised financial support for protecting nature.
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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...
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