Key facts
- Cali Fund has raised only $7,085 in deposits against a $1 billion annual target.
- No contributions have been made by major pharmaceutical companies.
- Top 15 pharma companies could have contributed $756 million based on 2025 profits.
- The fund aims to direct at least half of its money to Indigenous peoples and local communities.
- Pharmaceutical companies argue the fund's contribution mechanism is inappropriate and overlaps with existing laws.
The Cali Fund, established to encourage companies that profit from nature's genetics to contribute to conservation in low-income countries, has garnered minimal financial support since its launch in February 2025. As of Monday, the fund had received just $7,085 in deposits against a target of $1 billion annually. Major pharmaceutical companies, which rely heavily on genetic information for drug development, have not yet contributed. Critics, including June Rubis of Macquarie University, accuse these companies of "free-riding on nature" and failing to recognize the importance of protecting biodiversity and supporting local communities. The fund's low uptake is a key discussion point at the Cop17 biodiversity summit in Yerevan, Armenia. Pharmaceutical industry representatives have raised concerns about the fund's design, suggesting that the proposed contribution model is not universally applicable and overlaps with existing legal frameworks.