Canada-led biodiversity deal faces funding shortfall, report says

A new assessment says progress is being made on the global biodiversity agreement reached in Montreal in 2022, but the pace is still not enough to meet its 2030 targets. The deal, which Canada helped broker, set goals to protect 30 per cent of the world’s land and oceans and to raise major international funding for conservation in developing countries. The report says current commitments would likely leave the world at about 27 per cent of land protected and 12 per cent of oceans protected by 2030. Supporters say land protection is moving closer to target, with more than 50 countries already reporting at least 30 per cent terrestrial coverage. But oceans protection and financing remain weak points, with annual international biodiversity funding far below the agreed goal. The article also notes some momentum for marine conservation, including Canada’s ratification of the High Seas Treaty and plans to host the Our Ocean Conference in Halifax in April. At the same time, critics warn that Canada’s domestic push to fasttrack resource projects could undercut its environmental leadership.