India Tuesday announced to allocate a sum of US$50-million for the next two years to strengthen institutional mechanisms on biodiversity conservation in the country.
Prime Minister Dr. Manmohan Singh Tuesday announced it while speaking at the inauguration of the Eleventh Conference of Parties to the Convention on Biological Diversity.
"As part of Hyderabad Pledge, $50 million will be earmarked during India's presidency of the COP on Biological Diversity to strengthen institutional mechanisms," said Prime Minister.
"India stands committed to work with all parties to……a future that provides ecological and economic space for each one of us," he said.
On the ongoing debate on environment versus development, the prime minister said, "In recent years, it has become increasingly more difficult to find common ground on environmental issues. We need inclusive conservation."
Asking countries to ratify the Nagoya Protocol, the prime minister said, "India has recently ratified the Nagoya Protocol and formalised our commitment to it. I would urge all the Parties to do likewise. I am, however, glad that negotiations regarding biodiversity have achieved remarkable success."
The Nagoya Protocol is an international legally binding treaty that works towards conservation of biological diversity, sustainable use of its components and fair and equitable sharing of benefits arising from genetic resources.
Manmohan Singh said food security is a key challenge for the world, particularly in an increasingly climate vulnerable world.
About 15,000 delegates from over 185 countries are attending the 11th meeting of the Conference of Parties (COP11) to the Convention on Biodiversity (CBD) COP11, which began Oct 8 and will continue till Oct 19.
Manmohan Singh also unveiled a pylon and laid the foundation stone for a biodiversity park and museum here to mark the ongoing global biodiversity meet.
The delegates at the conference will plant 300 to 400 rare and endangered plant species in the proposed park which, along with the museum, is being built at a cost of Rs.100 crore. The Andhra Pradesh government has earmarked 15 acres of land for the pylon, park and museum in Gachibowli.
The ministerial session will see heads of state working on four primary agendas: strategic plan and resource mobilisation, biodiversity and livelihood, protecting marine and coastal biodiversity and early ratification of the 2010 Nagoya Protocol.
--With IANS Inputs--
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