Big pharma accused of ‘free-riding on nature’ as global fund attracts just $7,000

The Cali Fund, aimed at raising $1 billion annually for biodiversity conservation, has received minimal contributions, primarily from small companies. Major pharmaceutical firms, which rely on genetic resources for drug development, have not contributed despite potential significant financial input. Critics argue that these companies are benefiting from nature without giving back, highlighting a disconnect between profit generation and environmental responsibility. The fund's effectiveness is under scrutiny at the ongoing UN biodiversity conference, with calls for mandatory contributions from the industry. Pharmaceutical representatives express concerns about the fund's structure and its overlap with existing laws, while acknowledging the importance of biodiversity for health.