Verna contributes to the Cali Fund
Verna has become one of the first companies to pay into the global fund that shares the value of nature's genetic data with the people who protect biodiversity.
What the Cali Fund does
The Cali Fund shares the benefits of digital sequence information (DSI) on genetic resources. DSI is the genetic data of plants, animals and other life, much of it held in public databases. Companies in sectors from pharmaceuticals to AI use it to create products.
Agreed by 196 governments at COP15, at least half of the money from the fund goes to Indigenous peoples and local communities, for needs they identify themselves. The rest goes to developing countries.
The fund helps deliver Target 13 of the Kunming-Montreal Global Biodiversity Framework. This target calls for a significant increase in shared benefits from genetic resources and DSI by 2030.
Why we contributed
Large companies in sectors such as pharmaceuticals, biotechnology and AI-driven services are expected to contribute to the Cali fund. Verna’s focus is adjacent but we chose to contribute because we feel our respective missions are aligned, and we believe the fund has the potential to have a materially positive impact. Indigenous peoples and local communities are at the forefront of protecting nature, and the fund puts them first.
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Why now
Governments are meeting at COP17 in Yerevan, Armenia, until 30 October. Contribution rates, company thresholds and other details of the fund are on the agenda. We hope that early contributions help give governments and larger companies the confidence to move forward.
Companies interested in contributing can find out more on the Cali Fund website.
Image: Maligcong rice terraces · LemuelSalibio, CC BY-SA 4.0, via Wikimedia Commons
