COP17 Agrees on Biodiversity Plan, Funding Still Lacking

Governments at the UN COP17 conference in Yerevan adopted a decision to accelerate global efforts to protect biodiversity, despite ongoing challenges in securing sufficient financial support.

The two-week conference, held amid a politically tense environment, marked the first global review of the Global Biodiversity Framework established in Montreal four years ago. Delegates acknowledged that progress was insufficient, with the world off track on most targets.

The Yerevan Pathway outlines priorities for faster action, including reducing harmful subsidies, increasing finance for developing countries, and aligning national spending with biodiversity goals. Delegates emphasized the need for stronger implementation before the next conference in Quito in 2028.

The Montreal framework set ambitious goals, such as conserving 30% of land, inland waters, marine, and coastal areas by 2030, restoring 30% of degraded ecosystems, and mobilizing $200 billion annually for biodiversity preservation. However, the UN noted that fewer than half of the nations assessed are on track to meet these targets.

While over $1.8 billion in funding was announced during the conference, the $200 billion annual goal remains unmet. Delegates also agreed to review existing funding arrangements and explore a permanent financing mechanism, though some expressed concerns that progress remains too slow.

Environmental groups highlighted the need for stronger financial backing, with one official stating that without a course correction, the world risks failing to meet its biodiversity targets by 2030.