Big pharma accused of ‘free-riding on nature’ as global fund attracts just $7,000
Summary
A global fund called the Cali Fund was created to raise $1 billion each year from companies that profit from nature’s genetic resources to support conservation in poor countries. However, more than 18 months after its start, the fund has only received about $7,000 in actual payments, with no major pharmaceutical companies contributing despite their heavy use of nature’s genetic information.Key Facts
- The Cali Fund aims to collect $1 billion annually to protect nature in low-income countries.
- So far, only $10,656 has been pledged, and $7,085 deposited, mostly by small companies.
- Major pharmaceutical companies, which earned around $161 billion in profits in 2025, have not contributed.
- The fund suggests companies give about 1% of profits or 0.1% of revenue as a voluntary donation.
- Pharmaceutical firms rely on genetic information from nature to develop new medicines.
- The fund targets a $700 billion global gap in funding for nature conservation.
- Half of the money will support Indigenous peoples and local communities involved in protecting biodiversity.
- Companies argue the fund’s rules are unclear and overlap with existing laws.
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