Creating a new global fund for biodiversity - a core demand of developing countries at UN talks in Montreal --"would take years" and be less effective than reforming existing financial mechanism, Canada's environment minister said. Ottawa's position reflects the consensus among developed nations on the thorny issue which has emerged as a key sticking point in negotiations to hammer out a new global pact for nature at the meeting, known as COP15.

Rich nations oppose new biodiversity fund. (2022, December 16). DailyGuardian, p. 5.