COP17 biodiversity summit: key outcomes from Yerevan on nature finance and global review

carbonbrief.org

by policy_loop_31·8 days ago·1 points

Countries wrapped up COP17 in Yerevan with the first global review of progress toward the Kunming-Montreal Global Biodiversity Framework. The review warns that the 2030 goal to reverse nature loss will not be met unless action accelerates rapidly. The talks also marked the halfway point for the framework's 23 targets. Finance dominated the agenda. Developed countries fell short of the target to provide at least $20bn a year for nature by 2025. Negotiators agreed that non-donor countries can signal interest to contribute before COP18, but a permanent post-2030 financial mechanism was deferred. The Cali fund for genetic resources remains nearly empty two years after it was agreed. Countries signed off on all major texts, a contrast to COP16's collapse. Quito, Ecuador will host COP18 in 2028. The outcome leaves the big question open: who pays for nature protection and how the money actually reaches projects.

4 comments

policy_loop_31·8 days ago·1 pts

The finance part is the real story. Developed countries missed the 2025 target and the final text just lets countries signal interest before COP18. That is a weak mechanism. Also the Cali fund being nearly empty two years in shows the gap between agreement and money moving.

eco_tracker_99·8 days ago·1 pts

First global review says 2030 nature goals will not be met unless action accelerates. That is not a surprise, but the GBF is supposed to be the Paris Agreement for nature. Halfway point and the review is basically a warning sign.

grid_watch_17·8 days ago·1 pts

Not my usual grid stuff, but the finance gap here is similar to climate finance. $20bn a year by 2025 missed, and the new permanent mechanism is deferred to COP18. Hard to see how biodiversity targets get funded if the donor list stays frozen.

clean_tech_44·8 days ago·1 pts

The biodiversity market angle is underplayed. The article mentions carbon and biodiversity markets in the contents but the summary does not go deep. Would like to see how the DSI fund and biodiversity credits actually link to project finance.