Nations agree historic deal to save nature

Sunday, 31 October 2010 22:23 - - {{hitsCtrl.values.hits}}

Nagoya, Japan (Reuters) - Nearly 200 nations agreed on Saturday to a sweeping plan to stem the loss of species by setting new 2020 targets to ensure greater protection of nature and enshrine the benefits it gives mankind.

Environment ministers from around the globe also agreed on rules for sharing the benefits from genetic resources from nature between governments and companies, a trade and intellectual property issue that could be worth billions of dollars in new funds for developing nations.

Agreement on parts of the deal has taken years of at times heated negotiations, and talks in the Japanese city of Nagoya were deadlocked until the early hours of Saturday after two weeks of talks.

Delegates agreed goals to protect oceans, forests and rivers as the world faces the worst extinction rate since the dinosaurs vanished 65 million years ago.

They also agreed to take steps to put a price on the value of benefits such as clean water from watersheds and coastal protection by mangroves by including such “natural capital” into national accounts.

Services provided by nature to economies were worth trillions of dollars a year, the head of the U.N. Environment Programme, Achim Steiner, said in a statement, adding businesses from banks to miners were key in halting rapid loss of ecosystems.

“These goals recognize and value the irreplaceable benefits that nature provides to people in the form of food, fuel, fiber, fodder and freshwater that everyone depends on,” Andrew Deutz, director of international government relations for U.S.-based The Nature Conservancy, told Reuters.

Delegates and greens said the outcome would send a positive signal to troubled U.N. climate negotiations that have been become bogged down by a split between rich and poor nations over how to share the burden in curbing greenhouse gas emissions.

U.N. climate talks resume in Mexico in a month.