Astrid Schomaker, Executive Secretary of the Convention, stated that in 2023, financial flows towards activities harmful to nature amounted to approximately $7.3 trillion. Most of this sum comes from the private sector, although harmful government subsidies also play a significant role. According to Armenpress, a report by the United Nations Environment Programme attributes $4.9 trillion of these flows to private sources and $2.4 trillion to government subsidies that harm the environment.
The UN Conference on Biodiversity (COP17) is taking place in Yerevan from 19 to 30 October, with delegations from 196 countries participating, with the aim of assessing the implementation of the Kunming–Montreal Programme and seeking agreement on funding for nature conservation. One of the programme’s objectives is to eliminate, phase out or reform harmful incentives, including subsidies, by reducing their volume by at least $500 billion annually by 2030.
This story was translated with the assistance of artificial intelligence.The translation was also reviewed by the Logos Press editorial team.
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