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Global Agreement Reached on $200 Billion Annual Biodiversity Financing Plan

UN COP16 summit concludes with a compromise strategy to address biodiversity loss, though key decisions on funding mechanisms are deferred to 2028.

Delegates are at loggerheads over how to deliver funding
An aerial view shows a deforested area during an operation to combat deforestation near Uruara, Para State, Brazil January 21, 2023. REUTERS/Ueslei Marcelino/File Photo
FILE - Forest lines the Combu creek, on Combu Island on the banks of the Guama River, near the city of Belem, Para state, Brazil, Aug. 6, 2023. (AP Photo/Eraldo Peres, File)
FILE - Deforestation is visible near the areas of several wood pellet production companies in Pohuwato, Gorontalo province, Indonesia, Oct. 22, 2024. (AP Photo/Yegar Sahaduta Mangiri, File)

Overview

  • Representatives from over 140 countries agreed to mobilize $200 billion annually by 2030 to support biodiversity conservation under the Kunming-Montreal Global Biodiversity Framework.
  • The compromise avoids the immediate creation of a new global biodiversity fund, with a decision on its necessity deferred until 2028 after a five-year review of existing mechanisms.
  • Developed nations committed to providing $20 billion annually to developing countries by the end of 2025, with additional emphasis on private sector contributions and innovative financing schemes.
  • The agreement includes measures to improve accountability and monitoring of biodiversity targets, though the framework remains non-legally binding.
  • Tensions between wealthy and developing nations highlighted ongoing challenges in global environmental diplomacy, exacerbated by the absence of U.S. participation under President Donald Trump.