HISTORIC AGREEMENT AT COP16 ON BIODIVERSITY FINANCING

GS3 ENVIRONMENT: 

Key Outcomes of COP16

World leaders at COP16 in Rome finalized a landmark agreement to strengthen biodiversity financing. Resuming after a pause in Cali, Colombia (2024), the conference focused on securing long-term funding for the Kunming-Montreal Global Biodiversity Framework (KMGBF).

Major Funding Commitments

• Governments pledged $200 billion annually by 2030, with an interim goal of $20 billion per year by 2025, rising to $30 billion by 2030 from international sources.
• The Global Environment Facility (GEF) allocated $3 billion, leveraging an additional $22 billion, including $1.9 billion from the private sector.
• Focus on diversified funding, including private sector contributions and blended finance.

Implementation of Article 21

• Aims to create a permanent financial mechanism under the Convention on Biological Diversity (CBD).
• Countries sought clarity on funding sources, with Brazil (representing BRICS) proposing refinements.

Launch of the Cali Fund

• Ensures equitable benefit-sharing from digital genetic resources.
• Pharmaceutical & biotech industries must share profits for biodiversity conservation.
• 50% of the fund dedicated to Indigenous communities recognizing their conservation role.

Enhanced Monitoring & Reporting

• Strengthened tracking mechanisms under the updated KMGBF plan.
• First global biodiversity assessment at COP17 in Armenia (2026).
• Reports to include perspectives from youth, women, Indigenous groups, and businesses.

Next Steps

With finance secured and tracking in place, the focus now shifts to implementation. COP17 will review progress on biodiversity finance and conservation targets.