COP 16 – Peace with Nature

The 16^th session of the Conference of the Parties to the Convention on Biological Diversity (COP 16) has ended without the Parties being able to agree on a strategy to raise further funds for nature conservation. With a record number of delegates (around 23,000), a high-level segment attended by six heads of state, more than 130 ministers and deputy ministers and over 70 leading representatives of international organisations, the conference took place under the topic Peace with Nature from the 21^st October to the 2^nd November 2024 in Cali, Colombia.

However, the signatory states were able to agree on a single new financing instrument, the so-called ‘Cali Fund’ for fair and equitable benefit-sharing in the utilisation of digital sequence information. Companies that benefit from the sequencing of genetic resources are to share a portion of the proceeds with the countries of origin of the biodiversity.

In addition, after eight years of negotiations, a breakthrough has been achieved in the scientific characterisation of biologically or ecologically significant marine areas. In future, there will be a better and more efficient procedure for identifying biologically valuable marine areas that should be placed under protection.

Strengthening the participation of Indigenous Peoples

At the conference, a work programme was adopted that provides for the traditional knowledge of indigenous peoples and Local Communities (IPLCs) to be better taken into account in the future to tackle the biodiversity and climate crises. In addition, a permanent committee was set up to strengthen the participation of IPLCs, which include between 300 and 500 million people worldwide. They make up around 50 per cent of the population in areas with the highest biodiversity. 

Protecting tropical primary forests

At a side event, the International Union for Conservation of Nature (IUCN),  the Global Environment Facility (GEF), the Food and Agriculture Organisation (FAO), the United Nations Forum on Forests (UNFF) Secretariat, Wild Heritage and Griffith University/Australia launched the GEF-funded medium-size project Strengthening Conservation of Primary Forests through Partnership Enhancement and Coordination of Support and discussed the critical importance of protecting and conserving primary forests, especially in biodiversity-rich tropical countries. The objective of this project is to prevent the loss of tropical primary forests world-wide by strengthening their protection and conservation, which will in turn contribute to mitigating climate change, preventing biodiversity loss and land degradation, and improving the livelihoods of the communities that depend upon them.

EU funding for global biodiversity conservation

On the sidelines of the conference, the European Union announced twelve million euros support for global biodiversity conservation efforts led by the United Nations Development Programme’s Biodiversity Finance Initiative (BIOFIN). The EU funding will support the involvement of Indigenous Peoples and Local Communities in the development of biodiversity credit markets, improvements to the Finance Resource Database for Biodiversity (FIRE) and sustainable financing for Marine Protected Areas (MPAs). 

BIOFIN has helped catalyse over one billion US dollars in financing for nature across 41 countries since 2018, and is currently working with an additional 91 countries to support Biodiversity Finance Plans which will unlock new investments in nature and reduce spending that damages biodiversity. 

New pledges to Global Biodiversity Framework Fund

Eight governments pledged an additional USD 163 million to the Global Biodiversity Framework Fund (GBFF) at the conference, providing new targeted support to countries and communities working to conserve, restore and ensure the long-term health of wild species and ecosystems. These countries are Austria, Denmark, France, Germany, New Zealand, Norway, the United Kingdom and Québec. The Government of Québec is the first subnational government to contribute to the Global Biodiversity Framework Fund. 

The GBFF was established at the request of parties to the Convention on Biological Diversity’s COP15, and was launched less than a year later. It has streamlined procedures to provide efficient support for developing countries and can receive contributions from all sources, including public, private and philanthropies.

Ines Lechner, editor Rural 21

Visit the website of the Convention of Biological Diversity (CBD)