Why the $700 Billion "Funding Gap" for Biodiversity is Dangerous Nonsense
Implications for Oceans and Small-Scale Fisheries

Closing a so-called "funding gap for biodiversity conservation" was one of the critical topics at the 16th Conference of the Parties (COP 16) to the UN Convention on Biological Diversity (CBD), recently concluded in Colombia.

This "funding gap" was estimated to be $700 billion in Goal D of the Kunming-Montreal Agreement, on the basis of a report, Financing Nature, published in 2020.

Taking the example of fisheries and ocean conservation, this article shows that the $700 billion figure is based on highly dubious calculations and assumptions.

The author argues the funding gap report is not a serious effort to estimate the needs for supporting conservation efforts. Instead, it is a performative publication marketing opportunities for private investment and market-based mechanisms. The $700 billion figure should be rejected by those opposed to the continuing financialisation of conservation.

Included above is an interview with the author, Andre Standing, in both an English and a Spanish version.