Rome, Feb 24 (IANS) Hours ahead of resuming the three-day UN global biodiversity negotiations in Rome, the European Union (EU) on Monday said it is working towards an agreement on pending decisions at COP16 on biodiversity.
“The EU is pushing for all pending decisions to be agreed, including on resource mobilisation, the monitoring framework and the procedures for review of implementation,” the European Commission said in a statement.
On Tuesday, nations, including India, will gather as negotiations resume under the 16th Conference of the Parties to the Convention on Biological Diversity (CBD COP16), to agree on crucial issues for the implementation of the historic Kunming-Montreal Global Biodiversity Framework (GBF) to halt and reverse biodiversity loss by 2030.
Key issues where consensus among parties and stakeholders will be sought is how to close the biodiversity funding gap by mobilising financial resources from all sources, establishing strong review mechanisms and updating the monitoring framework.
Achieving peace with nature by advancing the implementation of the GBF is crucial for economies, food security, well-being and health, for effective climate action and resilience.
In an increasingly challenging geopolitical landscape, which also affects biodiversity policies and financing, success in Rome will be a significant step forward.
EU Commissioner for the Environment, Water Resilience and a Competitive Circular Economy, Jessika Roswall, said: “The EU and its member states remain fully committed to the implementation of the Global Biodiversity Framework. At these resumed negotiations, together we must find a way to continue mobilising resources from all sources and ensure continued biodiversity financing after 2030 that is effective and coherent. We are ready to work together with all parties to move forward and build on the progress made in Cali.”
The 16th CBD Conference of the Parties that took place in Cali, Colombia, in October 2024 was overall a success and led to several achievements. However, nations could not reach an agreement on all decisions needed to properly implement the framework.
The EU is working with partners and is seeking consensus on all the pending draft decisions: resource mobilisation, the financing mechanism, the monitoring framework, the arrangements for planning, monitoring, reporting and review, the financial mechanism, cooperation among multilateral environmental agreements and international organisation and processes, the multiyear programme of work and on administrative matters. Most discussion is expected on resource mobilisation.
On other matters, fair compromises seem to be within reach. The EU and its member states are the main providers of international biodiversity funding. The European Commission has already announced a doubling of its international biodiversity financing to EUR 7 billion for the 2021-2027 period.
It is already delivering important flagships such as the EUR 1.4 billion NaturAfrica initiative. Most of the support is provided as part of bilateral cooperation and aims at supporting partners to implement the GBF.
In addition, the EU aims to leverage additional funding from domestic or private sources mobilising a large toolbox (blending, guarantees, green bonds). The European sustainable financing initiative will help to direct additional finance supporting investments in biodiversity. The EU budget allocates 10 per cent to be used for biodiversity-related activities in the EU from 2026 onwards.
The EU is also integrating biodiversity into other funding programmes while maximising synergies with our climate agenda. The Kunming-Montreal Global Biodiversity Framework sets ambitious targets for biodiversity finance, both domestically and internationally.
In Montreal, nations agreed to increase global biodiversity finance to $200 billion per year by 2030. This financing should come from all sources: domestic and international, public and private.
Donor countries also committed to increase international biodiversity finance to $20 billion by 2025, and $30 billion by 2030. The Global Biodiversity Framework (GBF) provides clear goals and targets, and a roadmap to protect and restore biodiversity around the world.
COP16 took place in Cali, Colombia, and was the first time countries got together after the signature of the GBF in 2022.
–IANS
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