Progress Stalled at COP 16: Key biodiversity targets and funding decisions delayed amidst debates over resource mobilization

The 16th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP 16) was suspended in the morning of November 2. After roughly 12 hours of meeting in the Plenary session, at roughly 9 am COP 16 lost quorum and was suspended before approval of a few last items. It will resume at a later date and venue to complete the agenda.

It’s a step backward towards achievement of the 23 targets for 2030 laid out in the Kunming-Montreal Global Biodiversity Framework (KMGBF), adopted at the previous meeting of the Convention’s 196 Parties in Montreal in 2022.

Resource mobilization was one of the key issues not determined. After extensive discussions in contact group meetings, the Chairs proposed a new document outlining the main points for the Strategy for Resource Mobilization (2025–2030), focused on closing the biodiversity finance gap. However, the polarized debate over establishing a dedicated global instrument for biodiversity finance remained unresolved, leaving the options open as to whether to adopt an intersessional process or to continue advancing resource mobilization and progress monitoring toward Target 19 without committing to a global finance instrument.

Parties at COP 16 will resume discussions later to approve a new “Strategy for Resource Mobilization” to help secure $200 billion annually by 2030 from all sources to support biodiversity initiatives worldwide, representing one of the KMGBF’s goals. Another is the redirection by 2030 of $500 billion per year in subsidies that harm biodiversity.

Parties will also look at the possible creation of a new dedicated global financing instrument for biodiversity to receive, disburse, mobilize and articulate funding needs.

To date the Convention has been able to count on resources mobilized to support the goals and targets of the GBF through a variety of bilateral arrangements, private, and philanthropic sources, as well as dedicated funds such as:
• The Global Biodiversity Framework Fund (GBFF), agreed at COP 15 in 2022 and established in less than a year by the Global Environment Facility (GEF). The fund accepts contributions from governments, the private sector, and philanthropies, and finances high-impact projects in developing regions, with emphasis on supporting countries with fragile ecosystems, such as small island states and economies in transition. To date, 11 donor countries as well as the Government of Quebec have pledged nearly US $400 million to the GBF Fund, with US $163 million pledged during COP 16.
• The Kunming Biodiversity Fund (KBF), launched at COP 16 with a US $200 million contribution from the Government of China. The KBF supports accelerated action to deliver 2030 Agenda and SDG targets and 2050 goals of the Kunming-Montréal Global Biodiversity Framework, particularly in developing countries.

COP 16 also considered an evaluation of the effectiveness of the GEF, which serves as the financial mechanism of the Convention. The evaluation noted that the GEF has made significant progress in its role in resource mobilization and in supporting the implementation of activities that achieve the objectives of the CBD. The report of the GEF to COP 16 noted that during the first two years of its current funding cycle (GEF-8), the GEF approved 2.42 billion in direct support to the KMGBF.

The Parties could also not conclude and adopt the final adjustments to the text on Biodiversity and Climate Change.

Regarding Indigenous peoples and local communities, progress has been made on Article 8(j), with advancements in the text toward developing a new program of work on Article 8(j). However, the decision on creating a permanent body was not adopted at this COP.