Cali Fund for biodiversity faces shortfall as corporate contributions stall

The Guardian reported on October 22 that big pharmaceutical companies have been accused of free-riding on nature after the Cali Fund collected just 7,000 dollars. The landmark biodiversity initiative was established to invite commercial businesses to put a portion of their profits back into global conservation efforts. [1]

According to the Guardian, the Cali Fund was originally set up with a target to raise 1 billion dollars, or roughly 750 million pounds, each year. The mechanism asks commercial companies that profit from nature's genetics to contribute funding towards conservation projects located in low-income countries. [1]

The Guardian reported that more than 18 months after the fund was officially launched, total contributions remain far below its target. As of October 19, the total amount raised by the global fund remained virtually empty. [1]