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Biodiversity Talks Should Oppose 'Financialization' of Nature
HYDERABAD, INDIA - October 12 - While ministers start gathering here ahead of a second week of United Nations Biodiversity talks [15-19 October], preparing to discuss where to garner billions of dollars needed to preserve global biodiversity, Friends of the Earth International warns against Nature being ' financialized' (being given a price, bought, sold, and converted in financial mechanisms), which many multinational corporations are lobbying for.
More than 170 countries are represented at the Hyderabad UN 11th Conference of the Parties to the Convention on Biological Biodiversity, which seeks to address all threats to biodiversity and ecosystems, including climate change.
"Biodiversity and forests are critical for the survival of people and the planet, and are thus priceless. Our biodiversity needs to be protected, not speculated on by reckless and unaccountable financial markets,” says Isaac Rojas, Friends of the Earth International Coordinator of the Forests and Biodiversity Programme.
Friends of the Earth International believes that governments should establish public funds and other non-market based and non-corporate mechanisms to fund the conservation of biodiversity, and not rely on financial markets and financial speculation.
"Financialization of Nature, which many corporations are lobbying for, is a recipe for disaster. The takeover of biodiversity by the financial sector must be stopped," Isaac Rojas added.