The Cali Fund, established to raise $1 billion a year for biodiversity from drug companies, is struggling to gain traction, remaining nearly empty. This fund was designed to encourage companies that profit from nature’s genetics to contribute towards conservation efforts in low-income countries.
Fund Status
More than 18 months after its launch, the Cali Fund has received only $10,656 in commitments, with just $7,085 deposited as of Monday, coinciding with the start of the Cop17 biodiversity summit in Armenia. Notably, no contributions have come from major pharmaceutical companies, despite their dependence on genetic information from organisms worldwide for developing profitable new medicines.
Industry Participation
The participation of the pharmaceutical industry is crucial for the fund's success. A study by Zero Carbon Analytics (ZCA) indicated that the top 15 pharmaceutical companies could have contributed $756 million based on their performance last year, had they adhered to the fund's guidelines suggesting a voluntary contribution of 1% of profits or 0.1% of revenue. In 2025, these companies reported approximately $161 billion in profits.
““Look at how much profit these pharmaceutical companies are getting – and we’re only asking for a tiny percentage,” said June Rubis of Macquarie University, an Indigenous peoples and local communities representative from Asia and a member of the Cali Fund’s steering committee. “Definitely, they’re free-riding on nature.”
Rubis emphasized the need for businesses to recognize the importance of protecting nature and supporting communities that have been at the forefront of biodiversity conservation.
Conference Discussions
The Cali Fund is a significant topic at the UN biodiversity conference – Cop17 – in Yerevan this week, as part of broader efforts to address a $700 billion funding gap for nature conservation. At least half of the funds raised will be directed towards priorities identified by Indigenous peoples and local communities.
