UNDP on impact of subsidies on biodiversity loss

At COP16 – the UN conference on biodiversity in Cali, Colombia – governments are trying to identify $700 billion in funding a year to help restore nature. But each year countries spend trillions on harmful subsidies that go towards fossil fuels, agriculture, and fisheries. CGTN sat down with UN Assistant Secretary General and Director of UNDP’s Bureau for Policy and Program Support to discuss a hidden drain on financing that could otherwise be spent more efficiently on programs to help stop biodiversity loss. The UNDP is offering guidance on how to reallocate government subsidies for fishing, agriculture and energy industries and spend the money more efficiently, and effectively, to meet UN targets for environmental protection. Michelle Begue spoke with UNDP Director of Policies Marcos Neto from Cali. Watch CGTN LIVE on your computer, tablet or mobile https://cgtnamerica.vhx.tv/videos/hd-live-broadcasts Subscribe to CGTN America on YouTube Follow CGTN America: Twitter: @cgtnamerica Facebook: @cgtnamerica Instagram: @cgtnamerica TikTok: @newstoks This material is distributed by MediaLinks TV, LLC on behalf of CCTV. Additional information is available at the Department of Justice, Washington, D.C.