Countries agree to scale action on 2030 nature targets at COP17, but finance issues continue to haunt implementation

Negotiators from 182 Parties at the UN biodiversity conference (COP17) in Armenia have agreed a plan of action to accelerate implementation of the 2030 nature targets. Parties also reached consensus on several key biodiversity finance issues and found a way forward to boost human-rights based approaches under the Convention on Biological Diversity (CBD). A vote also revealed Quito, Ecuador, will host COP18 in 2028.

After a gruelling two-weeks of negotiations in Yerevan, where governments examined what progress has been made since the adoption of the Global Biodiversity Framework in 2022, WWF welcomes the adoption of the Global Review decision that acknowledges action is insufficient, and that ambition in implementation for the 2030 nature targets must be increased. The COP decision, dubbed ‘The Yerevan Pathway’ includes much-debated guidance for countries to speed up and scale up action, including on their finance commitments but also to reform at least USD 500 billion in harmful subsidies fuelling nature’s demise.

“We’ve seen more treats than tricks today at COP17,” says Daudi Sumba, Chief Conservation Officer at WWF International. “The Global Review is a strong signal to countries that they must do better when it comes to action for nature, but without clear scaling of the funds to be able to deliver, I fear finance will remain the key issue that continues to haunt the UN biodiversity summits. Negotiators returning home must now turn the Global Review into clear dedicated action, scaling nature’s recovery by transforming the most damaging sectors and activities across our food and finance systems.”

Governments struggled to reach consensus on an agreement on how biodiversity finance will be organised post-2030 but eventually agreed on the list of criteria that would guide the structure of the future permanent financial mechanism. Parties also agreed to a voluntary broadening of the contributor base of donor countries to international biodiversity finance, and to a formal review of the current funding mechanisms for biodiversity action, the Global Environmental Facility (GEF) and the Global Biodiversity Framework Fund (GBFF).

At COP16 in Colombia, the Cali Fund was hailed as one of the major outcomes of the conference, but progress on how the fund can operate has stalled – with some countries suggesting the fund needs to reach a critical threshold of USD 150-200 million before being activated. The fund aims to raise at least USD 1 billion annually from companies accessing digital sequenced information (DSI) from genetic resources for products, for example, in pharmaceuticals, detergents or cosmetics. Parties reaffirmed the indicative contribution rates for businesses and agreed on the issuing of certificates on a provisional basis to avoid duplication of payments. COP18 was penned for a review of the fund, but with only USD 10 thousand pledged at the close of COP, follow-up work at intersessional meetings will be important.

“Back when the UN Convention on Biological Diversity was first adopted in 1992, one of the main pillars was ensuring the fair and equitable benefit-sharing from biodiversity, especially from provider countries and local communities,” said Vishaish Uppal, Director of Governance, Law and Policy at WWF-India. “Almost 35 years later, we’re still not seeing the companies that profit off nature sharing their benefits with the Indigenous Peoples and Local Communities that act as the custodians of much of the biodiversity that their businesses rely upon. It really is about time that countries iron out these differences, so that funding can reach the people and places that need it the most.”

Before the talks, the UN released a Global Report that showed significant gaps when it comes to a human-rights based approach and meaningful participation from rights holders for national biodiversity action. WWF is therefore encouraged by the compromise made by the Parties to agree on the governance arrangements for the Subsidiary Body on Article 8J of the convention. Adopted at COP16, the body was a critical step towards ensuring the full and effective participation of Indigenous Peoples and Local Communities in the works of the convention.

On the sidelines of the conference, there has also been a number of positive initiatives announced by the Armenian COP17 Presidency, including a group of countries aiming to accelerate action on reforming harmful subsidies driving biodiversity loss, and a Joint Declaration on Rio Synergies streamlining delivery of the three COPs across climate, nature, and land degradation. A total of USD 1.8 billion in pledges were also announced by the Presidency as mobilised by participants throughout the conference, with other smaller pledges also announced. WWF is also encouraged by the first dialogue between environment and finance ministers held by the COP17 Presidency in Yerevan and hopes this continues to address the transformative societal change needed across key economic sectors.

“Biodiversity is not just about wildlife; it’s about the life support systems that sustain our lives and economies. Nature provides the food in our kitchens, the clean water from our taps, pollination for crops, and healthy soils that underpin global food security”, said Guido Broekhoven, Global Director of Multilateral Policy at WWF International. “Against the wave of pressures governments are facing domestically right now, Parties have come together in Yerevan to agree on collective efforts to boost action for nature – that’s something to be proud of.”

[ENDS]