Finance has been at the focal point of the next round of crucial UN biodiversity talks, that has been taking place in Cali, Colombia. The Convention on Biological Diversity Conference of the Parties (CBD COP16) marks a pivotal opportunity to advance global biodiversity, climate, and social justice goals.
This is the first Convention on Biological Diversity Conference of the Parties (CBD COP16) since the adoption of the Kunming-Montreal Global Biodiversity Framework in 2022 after delays and disruptions were witnessed due to the COVID-19 pandemic.
In light of CBD COP16, Climate Action Network International (CAN) has issued a set of demands for the UN Biodiversity Convention emphasizing the need for ambitious, national-level implementation of the Kunming-Montreal Global Biodiversity Framework.
At a time when multiple, mutually reinforcing crises are converging, national biodiversity and climate plans must be aligned. An emphasis is majorly on the need to integrate a human rights-based approach and avoid reliance on risky or ineffective methods.
In consideration of people first, the voices and needs of Indigenous Peoples, environmental defenders, and marginalized communities must be prioritized, with their rights guaranteed and the official biodiversity negotiation agenda reflecting this commitment.
According to CAN, with sufficient political will, Global North countries could contribute up to $20 billion annually by 2025, and at least $30 billion per year by 2030. The UN Biodiversity talks have prioritized the fact that such financing is essential and attainable to accelerate progress toward the 2030 global biodiversity targets and 2050 goals.
Additionally, addressing structural economic and political conditions, such as financial system reform, debt, and tax justice, is vital to counter the underlying drivers of biodiversity loss and government inaction.
As the COP29 climate negotiations approach next month in Baku, the Cali talks offer an opportunity to signal strengthened collaboration across climate, biodiversity, and human rights. Enhanced cooperation among the three Rio Conventions is crucial to maximize synergies, reduce trade-offs, and recognize the fundamental role of healthy ecosystems in supporting human life and addressing climate change.
Argentinian campaigner Catalina Gonda, a Climate Action Network representative at the UN Biodiversity talks, expressed concerns about a growing alarm that the level of ambition may fall short of global biodiversity targets.
“Only a handful of countries committed to the Kunming-Montreal Global Biodiversity Framework have revised their action plans. At a time of catastrophic natural loss worldwide, accelerating the climate crisis, it’s unsettling that countries are pushing us closer to ecological collapse, particularly affecting frontline and marginalized communities,” she said.
The Kunming-Montreal Global Biodiversity Framework outlines steps to bridge the estimated $700 billion annual biodiversity funding gap by 2030. This is inclusive of reforming harmful incentives by at least $500 billion annually, increasing total financial resources to $200 billion per year, and mobilizing international biodiversity financing from developed to developing countries, reaching $20 billion by 2025 and $30 billion by 2030.
“The level of ambition displayed at COP16 will depend on the progress wealthy nations make in mobilizing $20 billion per year by 2025 for developing countries. However, this is only a starting point. Transformational strategies are needed to address root causes, such as reforming harmful incentive schemes, preventing tax avoidance, canceling debt in Global South nations to free up resources, and re-evaluating austerity measures,” Gonda added.