illuminem summarizes for you the essential news of the day. Read the full piece on Associated Press or enjoy below:

🗞️ Driving the news: At COP16 in Colombia, UN delegates agreed to form an Indigenous subsidiary body to enhance representation in biodiversity decisions
• They also implemented a new rule obligating corporations to share benefits derived from using natural genetic resources, a move aimed at equitable biodiversity management

🔭 The context: This summit builds on the 2022 Montreal Accord’s goals to protect 30% of Earth’s ecosystems by 2030
• The inclusion of Indigenous peoples addresses a long-standing gap in biodiversity governance, while another resolution acknowledges the role of Afro-descendant communities in conservation

🌍 Why it matters for the planet: The genetic information-sharing rule ensures that corporations contribute financially to conservation, particularly crucial as biodiversity loss worsens
• Recognizing Indigenous knowledge systems promotes more sustainable management practices globally

⏭️ What's next: COP16’s agreements set a precedent for increased Indigenous involvement in biodiversity management and for corporations to pay into conservation efforts
• However, the funds pledged remain far short of the $20-30 billion needed annually for global biodiversity protection by 2030

💬 One quote: “With this decision, the value of traditional knowledge...is recognized, and a 26-year-old historical debt...is settled,” - Susana Muhamad, COP16 President.

📈 One stat: Global wildlife populations have plummeted by 73% in the past 50 years

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