With just two days remaining until the conclusion of the UN biodiversity conference in Colombia, delegates are still at loggerheads over the crucial issue of financing efforts to halt and reverse nature loss.
The 16th Conference of the Parties (COP16) to the UN’s Convention on Biological Diversity (CBD), currently underway in Cali, aims to assess progress and bolster national plans and funding for achieving the 23 UN targets set in 2022 to protect biodiversity. This conference, with a record-breaking 23,000 registered delegates, is the largest of its kind.
Building upon the Kunming-Montreal Global Biodiversity Framework adopted two years ago, the conference seeks to mobilize $200 billion annually by 2030 for biodiversity conservation, including $20 billion in annual financial flows from wealthy nations to developing countries. This funding is essential to achieve ambitious targets like protecting 30% of land and sea areas by 2030.
UN Secretary-General António Guterres, who visited Cali to galvanize the negotiations, underscored the urgent need for action, highlighting that human activities have already significantly altered Earth’s ecosystems. He urged delegates to accelerate progress, emphasizing the critical importance of biodiversity for planetary and human survival.
To achieve the framework’s goals, Guterres called for substantial funding from governments and the private sector. However, behind-the-scenes negotiations on finance remain stalled, casting doubt on the conference’s ability to deliver concrete outcomes.
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