Nations agree landmark deal to mobilise $200bn annually to halt, reverse biodiversity
More than 140 countries last week agreed a landmark deal to mobilise $200 billion a year by 2030 to halt and reverse biodiversity loss, concluding the negotiations left unfinished at the UN’s Biodiversity COP16 in Cali, Colombia in October.
The new finance strategy adopted Thursday was reportedly met with tears and applause from delegates at the summit in Rome, with COP16 President Susana Muhamad hailing the deal as an example of “our collective capacity to sustain life on this planet” and proof that “multilateralism can deliver.”
The funding commitments will be vital to meeting the targets of the Kunming-Montreal Global Biodiversity Framework, and the agreement implored developed nations to “enhance their efforts” to mobilise $20 billion annually for developing countries by the end of this year.
The annual $200 billion commitments will be generated via innovative financing mechanisms such as biodiversity offsets, carbon credits, and debt-for-nature swaps.
It also proposes research to be undertaken on the relationship between debt sustainability and nature protection, along with improving coordination between ministers of environment and finance at the policy level.
On the fringes of the second COP16 convening in Rome, the Cali Fund – created at the initial flagship event in Colombia – was officially launched.
The Cali Fund is a groundbreaking initiative designed to channel private investment into global conservation efforts. By requiring companies that profit from genetic discoveries in the world’s most biodiverse regions to reinvest in their protection, the fund ensures that nature’s wealth benefits both businesses and the ecosystems that sustain them. This pioneering approach transforms biodiversity into a shared responsibility, driving sustainable innovation while safeguarding the natural world for future generations.
One notable omission from the Rome accords was the creation of a dedicated global nature fund to distribute money to poorer nations most affected by climate change and biodiversity loss, a solution called for by many developing countries at COP16. Attendees agreed to begin the process of exploring the mechanism with a decision slated for 2028.
However, the newly adopted framework also sets out to establish a permanent financial mechanism to ensure long-term support for developing countries.
Against the current backdrop of heightened geopolitical tensions, the breakthrough in the Eternal City offered hope that international cooperation can still deliver results in the fight back against nature and biodiversity loss.
While COP16.2 in Rome delivered vital commitments from governments, mobilising private sector investment and innovation toward nature-based solutions will be critical to meeting those all-important GBF goals.
This remains a key focus of the World Climate Foundation, and our newly launched Nature Investment Coalition aims to mobilise $100 billion to promote the financing and implementation of nature-positive investments that prioritise environmental protection, biodiversity conservation and the restoration of global ecosystems.
By creating a collaborative platform of public sector, civil society, finance and industry leaders, we can build the alliances and share the knowledge needed to mobilise and deploy nature-positive solutions and financing at speed and scale.
Our globally-renowned World Biodiversity Summit will return to New York City on 25 September, bringing together frontrunners in business, finance and nature to forge partnerships, share knowledge and find solutions to the biodiversity crisis.
Our sector-specific impact coalitions due to be launched this year, on topics ranging from regenerative agriculture to the future of mining, will aim to establish and share best practice across sectors to deliver targeted, measurable outcomes for nature and biodiversity preservation.
