The UN Biodiversity Conference COP16 in Colombia concluded without agreement on financing conservation efforts, despite successes in other areas. Negotiations extended beyond the planned schedule, but many delegates left before reaching consensus. Environmental Minister Susana Muhamad announced the closure without formal conclusion, indicating talks may resume later. Key unresolved issues included monitoring conservation measures, financial backing, and profit-sharing for companies using genetic resources from developing countries. A last-minute accord was reached for major firms to contribute a small percentage of their revenues to a fund benefiting resource-contributing nations. The conference also established a committee to represent indigenous interests.