Climate activists criticise lack of funding agreement at COP16 on biodiversity
Countries have not finalised a strategy to secure USD 200 billion annually for biodiversity by 2030, as outlined in Target 19 of the KM-GBF
Despite the urgency of the climate crisis, the 16th Conference of the Parties (COP16) to the Convention on Biological Diversity (CBD) concluded without securing vital agreements for financing and monitoring the Kunming-Montreal Global Biodiversity Framework (KM-GBF).
According to global climate and biodiversity activists, this shortfall presents a substantial obstacle to fostering the trust and momentum needed as the world prepares for the upcoming COP29 next week.
In a press statement Climate Action Network (CAN) International, an association of global ecology NGOs, says that countries have not finalised a strategy to secure USD 200 billion annually for biodiversity by 2030, as outlined in Target 19 of the KM-GBF.
It adds that deep divisions over funding mechanisms stalled progress, with some developing nations advocating for a new dedicated biodiversity fund managed by COP, citing governance and access issues with the existing Global Environment Facility (GEF).
CAN says that these disagreements were exacerbated by a lack of trust due to developed nations’ failure to fulfil their commitment of providing USD 20 billion annually in international public finance by 2025.
It further adds that although the new ‘Cali Fund’ was created to support biodiversity through profit-sharing from companies using digital sequence information (DSI) from genetic resources, contributions are voluntary and payment rates are merely indicative.
Catalina Gonda
The statement adds CAN welcomes COP16’s decision to align biodiversity and climate goals between the UNFCCC and Convention on Biological Diversity (CBD)marking a vital link to COP30. However, it lacks strong language on fossil fuel transitions and safeguards for biodiversity, human rights, and financing.
“We can’t afford any more delays. Countries must urgently pick up these discussions and finalise outstanding issues to ensure the Global Biodiversity Framework stays on track to halt and reverse biodiversity loss by 2030,” says Catalina Gonda, one of Climate Action Network’s representatives at the biodiversity.
“Rich nations are still dodging their financial commitments under the convention, and downplaying the importance of public finance. In one room, they champion private finance as a solution to the biodiversity funding gap, but in another, they block mandatory contributions from companies profiting from genetic data. They have also resisted clear language to prevent double counting of climate and biodiversity finance. This double standard, combined with their underwhelming pledges, seriously undermines their credibility as we approach the New Collective Quantified Goal (NCQG) discussions in Baku,” Gonda adds.
Carlos Rittl
“This decision is a major milestone that opens the door to strengthen genuine cooperation across the Rio Conventions as we gear up to COP30 in Belém in 2025. Recognising these outcomes at COP29 in Azerbaijan will be essential to making meaningful progress next year and ensuring climate and biodiversity are addressed as interconnected crises,” says Carlos Rittl, Environmentalist and co-coordinator of the Climate Action Network’s Ecosystems Working Group.
