At COP16 – the UN conference on biodiversity in Cali, Colombia – governments are trying to identify $700 billion in funding a year to help restore nature. But each year countries spend trillions on harmful subsidies that go towards fossil fuels, agriculture, and fisheries. CGTN sat down with UN Assistant Secretary General and Director of UNDP’s Bureau for Policy and Program Support to discuss a hidden drain on financing that could otherwise be spent more efficiently on programs to help stop biodiversity loss. The UNDP is offering guidance on how to reallocate government subsidies for fishing, agriculture and energy industries and spend the money more efficiently, and effectively, to meet UN targets for environmental protection. Michelle Begue spoke with UNDP Director of Policies Marcos Neto from Cali.

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