Cali Fund for Biodiversity Struggles with Just $7,085 Raised Amid Challenges

PARIS: The Cali Fund, launched at the 2024 Biodiversity COP, is facing significant challenges as it has raised a mere $7,085, far below its ambitious goal of billions for nature protection. Intended to serve as a model for innovative financing, the fund aims to charge companies that profit from genetic data derived from nature.

The slow fundraising progress underscores the difficulties in mobilizing financial resources for biodiversity initiatives. As a pivotal UN biodiversity summit unfolds in Armenia until October 30, discussions are ongoing regarding the future of the fund and its potential to attract more substantial contributions.

Established during COP16 in Cali, Colombia, the fund commenced operations in February 2025, proposing a payment model that includes one percent of annual profits from pharmaceutical, cosmetics, and biotechnology companies, or 0.1 percent of their turnover. The fund’s designers had initially projected the possibility of generating up to one billion dollars annually, highlighting the stark contrast between expectations and current realities.

Looking ahead, stakeholders at the UN summit are expected to explore strategies to enhance funding mechanisms for biodiversity, addressing the urgent need for financial support to combat environmental degradation and promote sustainable practices.