Global discussions to protect biodiversity faced considerable hurdles at the recent COP16 Biodiversity Summit held in Cali, Colombia. Gathering representatives from around 180 countries, the conference aimed high, focusing on the mobilization of $200 billion annually by 2030 to reverse the shocking losses across ecosystems worldwide. Despite some advancements, key issues around funding remain unresolved.
"We really question the lack of legitimacy of discussing such an important issue at the end of the COP," stated Brazilian negotiator Maria Angelica Ikeda, expressing frustration over insufficient focus on financial resources to safeguard nature.
The summit, which witnessed the largest attendance for such conferences, resulted in notable agreements fostering indigenous representation within decision-making processes and the initiation of mechanisms to share profits from genetic resources. Funding efforts saw the establishment of the Cali Fund and additional pledges totaling around $163 million toward the Global Biodiversity Framework Fund, which seeks to align financial contributions with biodiversity targets.
While the discussions showed commitment and collaboration, the lack of consensus on pressing issues, particularly those related to new financial mechanisms, was evident. COP16 was suspended amid confusion when several delegations began leaving to catch flights, leading to questions around the legitimacy of some agreements made at the end.
Delegates emerged with feelings of disappointment concerning inadequate financing, as previous commitments were highlighted yet not met. The UN’s Convention on Biological Diversity highlighted the need for transferring $30 billion annually from wealthier nations to support biodiversity efforts within developing countries. According to OECD estimates, the actual funding levels from rich nations fell significantly short, at around $15 billion for 2022.
Despite acknowledging the urgency, the discussions on biodiversity funding stumbled as major player countries avoided committing to ambitious financial frameworks. Critics, including environmental NGOs and representatives from developing nations, expressed concern about wealthy countries falling back on their promises, citing insufficient efforts to redirect harmful subsidies and encourage more climate-friendly incentives.
The creation of the DSI fund, which aims to share profits derived from digital sequencing of genetic resources, was hailed as landmark. Companies generating profits from these valuable genetic insights will now contribute back, fostering more equitable benefits for nature-rich nations and supporting their local communities affected by biodiversity loss. An estimated 1% of profits or 0.1% of revenue will go toward this fund, which is expected to create significant resources aimed at conservation efforts.
"It’s time we take action beyond words. We must bolster financial incentives for protecting biodiversity," urged advocates, echoing sentiments reflected throughout the conference. They emphasized the dire situation facing approximately one-quarter of species assessed as at risk of extinction.
The establishment of stronger links between biodiversity protection and climate change responses was also evident throughout the summit. Alejandro Crawford, the IISD’s Director of Nature for Resilience, expressed optimism about the elevated status of indigenous peoples and local communities, noting their integral role within biodiversity frameworks going forward. The conference adopted new measures recognizing these groups more formally and ensuring their voices are heard.
Yet with these advances came clear challenges—most countries did not submit updated National Biodiversity Strategies and Action Plans (NBSAPs), leaving efforts to localize global targets stagnant. Only 44 of the 119 nations committed to updated plans, showcasing substantial work still needed before comprehensive biodiversity strategies can be effectively enacted.
Reflecting on the discussions, several attendees acknowledged the achievements, such as formalizing indigenous representation and agreeing on equitable sharing of genetic data profits, but also lamented the lack of decisiveness around funding. Conference organizers hinted at the urgency, noting, "We will continue working because this crisis is too big and we cannot stop."
The clear message from COP16 reflects the overwhelming need for rapid action on biodiversity funding and commitments from wealthier nations to follow through on promises. The urgency which underpinned many statements echoed throughout the summit must translate not just to rhetoric but to concrete steps to safeguard the planet’s rich biodiversity.
