Rich and developing countries on Thursday hammered out a delicate compromise on raising and delivering the billions of dollars needed to protect species, overcoming stark divisions that had scuttled their previous COP16 meeting in Cali, Colombia last year.
Countries had already agreed to deliver $200bn a year in finance for nature by 2030, including $30bn a year from wealthier countries to poorer ones.
The total for 2022 was about $15bn.
Thursday’s decision sets out two main strands of action in the coming years – finding the extra billions of dollars in funding for biodiversity and deciding on the institutions that will deliver the money.
Muhamad, who has resigned as Colombia’s environment minister but stayed on to serve until after the Rome conference, said members of her team were brought to tears by the last-minute agreement.
Washington, which has not signed up to the UN’s convention on biological diversity, did not send representatives to the meeting.