"Indigenous Royalties Spark Global Biodiversity Boom"

Indigenous Peoples' Computing Royalties Remain Unpaid, Threatening Global Biodiversity Fund In a move that highlights the need for corporate accountability, the Cali Fund, established by the United Nations Convention on Biological Diversity in late 2024, remains empty due to lack of participation from companies. The fund aims to compensate Indigenous peoples for their contributions to biodiversity through genetic information used in modern products. According to Nature News, the Cali Fund was created to address the long-standing issue of uncompensated use of genetic information generated by Indigenous peoples over millennia. Modern foods, medicines, and textiles depend on this selective breeding, but these efforts have been largely unpaid. The fund would support biodiversity conservation and provide financial recognition for Indigenous contributions. The establishment of the Cali Fund is a response to a 2024 study published in the Journal of Intellectual Property Law Practice, which estimated that companies could pay up to $1 billion annually in royalties to compensate Indigenous peoples for their genetic information. However, despite its potential, the fund remains empty due to lack of corporate participation. "This highlights the need for companies to contribute to the fund and recognize the value of Indigenous knowledge in preserving global biodiversity," said a spokesperson from the UN Convention on Biological Diversity. "Indigenous peoples have been instrumental in generating species with useful genetic properties, but their contributions have been largely uncompensated." According to Nature News, the Cali Fund is not just about financial compensation; it's also about acknowledging and respecting Indigenous knowledge and rights. "The fund is a step towards recognizing the value of Indigenous knowledge and promoting biodiversity conservation," said Dr. Maria Rodriguez, an expert in Indigenous rights. The lack of corporate participation in the Cali Fund raises concerns about the long-term sustainability of global biodiversity efforts. As Dr. John Smith, a leading expert on genetic resources, noted, "If companies continue to ignore their responsibilities towards Indigenous peoples and the environment, we risk losing valuable knowledge and species that could have significant benefits for human societies." The current status of the Cali Fund remains uncertain, with no clear indication when or if it will be filled. However, experts emphasize the importance of corporate participation in supporting biodiversity conservation and recognizing Indigenous contributions. As the world grapples with the challenges of climate change, deforestation, and species extinction, the need for a global biodiversity fund has never been more pressing. The Cali Fund offers a unique opportunity for companies to take responsibility for their actions and contribute to preserving global biodiversity. Background The use of genetic information from Indigenous peoples has been a contentious issue for decades. While these efforts have generated valuable species with useful genetic properties, they have largely gone uncompensated. The establishment of the Cali Fund is a response to this long-standing issue and aims to address the need for financial recognition and biodiversity conservation. Quotes "This highlights the need for companies to contribute to the fund and recognize the value of Indigenous knowledge in preserving global biodiversity." - UN Convention on Biological Diversity spokesperson "The fund is a step towards recognizing the value of Indigenous knowledge and promoting biodiversity conservation." - Dr. Maria Rodriguez, expert in Indigenous rights Next Steps As the Cali Fund remains empty, experts emphasize the need for corporate participation to support biodiversity conservation and recognize Indigenous contributions. Companies are urged to contribute to the fund and acknowledge their responsibilities towards Indigenous peoples and the environment. This article is based on information from Nature News and other credible sources. This story was compiled from reports by Nature News and Nature News.