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PTResumption of the Biodiversity COP: main decisions
The United Nations Conference on Biodiversity, COP16, held in Cali, Colombia, last year, will resume between February 25 and 27, 2025 in Rome, Italy, at the headquarters of the Food and Agriculture Organization of the United Nations (FAO). The parties will seek an understanding on issues that did not reach consensus in Cali, including the mobilization of resources and the conversion of the Kunming-Montreal Global Biodiversity Framework (GBF) targets into tangible actions.
In short, as at the Climate Conference, the great challenge is to define who will bear the necessary investments for the conservation of the planet’s ecosystems. WayCarbon was present at the 2024 forum, following the discussion and participating in panels. The representatives were Henrique Pereira, COO, and Carlos Eduardo Benfica, Sustainability Consultant. “As the most biodiverse country in the world, home to between 15% and 20% of all global biological diversity – according to UN data, Brazil has a central role in discussions on the topic”, Benfica analyzed in an article.
At the February meeting, the parties sought a new strategy for mobilizing resources, with the goal of securing US$ 200 billion annually by 2030 for biodiversity initiatives. The parties also discussed the establishment of a global financing instrument for this agenda, designed to mobilize and distribute funds effectively, as reported on the official website of the Secretariat of the Convention on Biological Diversity.
Highlights of the Biodiversity COP
On Tuesday, the first day of the event, the Cali Fund was formally presented, an instrument created to guarantee the sharing of financial benefits from the exploitation of biodiversity genetic resources by the private sector. The aim is for the funds to provide a new source of resources for the protection of biological diversity, with the participation of the private sector. The COP secretariat said in a press conference that it is in advanced discussions with companies from various jurisdictions, including the United States, in search of solid commitments on the issue.
Updates
Negotiations had not been finalized in Rome by the time this article was published. When this happens, the blog will be updated, including an analysis by Carlos Benfica.
