COP16 Sessions Conclude With Major Finance Plan for Biodiversity

X/ @KeitaMamaadam

February 28, 2025 Hour: 9:36 am

It sets an ambitious target of securing US$200 billion annually by 2030 from various funding sources.

On Thursday, the resumed sessions of the 16th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP16) concluded in Rome, adopting a landmark financial mobilization plan to advance global biodiversity efforts.

Over three days of negotiations, COP16 parties reached a consensus on the Mobilizing Financial Resources for Biodiversity strategy, a key focus of the resumed sessions.

The plan sets an ambitious target of securing US$200 billion annually by 2030 from various funding sources to support biodiversity initiatives. Of this, US$20 billion will come from international financial flows by 2025, with the figure expected to rise to US$30 billion by 2030.

In alignment with the Kunming-Montreal Global Biodiversity Framework (KMGBF), adopted at COP15 in 2022, delegates endorsed a range of instruments, mechanisms, and institutions designed to facilitate the mobilization of necessary funds.

La COP 16 Biodiversité se termine ce 27 février à Rome. La faune et la flore sauvages sont les forces cachées qui font fonctionner notre monde, mais elles sont très menacées.

Le nombre moyen d'espèces a chuté de 73 % depuis 1970, mettant en péril les écosystèmes, les économies… pic.twitter.com/70B9thOrDA
— WWF RDC (@WWF_RDCongo) February 27, 2025

The text reads, “COP16 on Biodiversity concluded on 27 February in Rome. Wildlife is the hidden force that makes our world tick, but it is under great threat. The average number of species has declined by 73% since 1970, putting ecosystems, economies and livelihoods at risk. Promises will not be enough. We need critical financial resources to halt and reverse the decline of wildlife. This COP16 must lead leaders to move from words to action. Our future depends on it. The time to act is now for people and nature.”

The sessions also yielded agreements on planning, monitoring, reporting, and reviewing progress, along with a comprehensive set of indicators to assess both global and national implementation of the KMGBF.

A key outcome of the sessions was the launch of the Cali Fund, a new financing mechanism supported by contributions from private sector entities that commercially utilize genetic resource data.

Marking a significant step forward in biodiversity financing, the fund ensures that at least 50 percent of its resources will be directed to indigenous peoples and local communities, recognizing their vital role as custodians of biodiversity.

The conclusion of the resumed sessions marks a significant achievement following last year’s COP16 meeting in Cali, Colombia, where discussions were suspended without agreement on financing and several other key issues.

#FromTheSouth News Bits | In an event at biodiversity COPs, Colombia launched the Peace with Nature Coalition, an urgent call that has brought together leaders from worldwide and mobilized citizens to protect biodiversity amid climate change, biodiversity loss, and pollution. pic.twitter.com/6BJ27N6pis
— teleSUR English (@telesurenglish) November 1, 2024