BOGOTA, Colombia — During the UN biodiversity conference, COP16, global negotiators wrapped up an extensive meeting, reaching crucial agreements on financial commitments and the institutions responsible for channeling these funds for the preservation of global biodiversity.
The participating nations settled on the allocation of $200 billion annually by 2030, a pledge initially made in Montreal. This funding plan includes a strategy to elevate annual conservation financing for developing countries to $20 billion by 2025, and to increase this figure to $30 billion per year by 2030. They also finalized details of the Global Biodiversity Framework, which aims to safeguard 30% of the world’s surface and restore 30% of degraded ecosystems by 2030.
Earlier in the week, member countries consented to establish the Cali Fund. This fund will develop mechanisms for industries benefiting from biodiversity to contribute back towards its conservation efforts.
At the meeting’s conclusion in Rome, attendees celebrated the achievements with a standing ovation. “The applause is for all of you. You have done an amazing job,” stated COP16 president Susana Muhamad from Colombia.
The successful outcome of COP16 marks the first UN meeting in recent months to end positively, contrasting with other recent global forums focused on issues like plastic pollution and climate change, which often ended in disillusionment or without consensus.
“This gathering in Rome has shown the commitment of participants to advance the Global Biodiversity Framework,” noted Muhamad, who previously served as Colombia’s environment minister. She emphasized that it was the unified effort of all stakeholders that led to these important decisions. “Only by working together can we make Peace with Nature a reality,” she said.
The two-day conference addressed unresolved issues from sessions in Cali, Colombia, in late 2024, focusing on securing the finances needed to realize previously set goals from Montreal in 2022. The Cali meetings had concluded without a quorum, as discussions extended beyond schedule, leaving insufficient delegates to guarantee any outcomes had universal UN member support.
Linda Krueger, Director of Biodiversity & Infrastructure Policy at The Nature Conservancy, remarked that while previous expectations for funding were not met, this session in Rome succeeded in mapping out a “financial roadmap” to meet the body’s initial commitments. “In a complex geopolitical landscape, this progress represents an encouraging display of global cooperation for nature,” she reflected. “Despite appearing technocratic, these details are pivotal in transforming paper ambitions into practical conservation actions.”
Oscar Soria, chief executive of The Common Initiative, expressed that the UN negotiators’ decisions signify “a positive step” towards funding biodiversity, setting clear objectives and review protocols. “However, the true effectiveness will depend on the fulfillment of commitments, the availability of finances, and the political determination of countries to augment their contributions,” he added.
Although the Rome extension successfully resolved key funding issues, the earlier COP16 discussions in Colombia, which ended in November, led to significant breakthroughs. Among these was a landmark agreement mandating companies to share benefits when utilizing natural genetic resources for profit, such as pharmaceuticals derived from rainforest plants. There was also progress in enhancing the involvement of Indigenous peoples and local communities in conservation initiatives.
Experts highlight the importance of biodiversity in maintaining ecosystem balance, ensuring resources like clean air, water, and food, while bolstering climate resilience. Biodiversity also plays a critical role in medical breakthroughs, economic stability, and overall life quality on Earth.
