In 1992, 150 nations signed the Convention on Biological Diversity, a global agreement to support sustainable development by protecting the web of life on Earth. This marks the 16th Conference of the Parties (COP) to that agreement, which has since come to include 196 nations.
World leaders, scientists, youth groups, finance professionals and others will be attending what has been called the “COP of the people.” They are expected to focus on the message that humanity is running out of time to save the natural world – and by extension, itself. Natural resources and the services that nature provides underpin human civilization. But ecosystems around the world are being degraded and 1 million species are threatened with extinction. That crisis is entrenching poverty, jeopardizing economies and undermining any chance of achieving the Sustainable Development Goals. Despite that, there is a sense of optimism heading into COP16, with environmental advocates optimistichopeful that the international community is ready to ramp up efforts to address this nature crisis.
“For too long, humanity has viewed itself as separate from nature,” says Gardner. “That perspective is starting to shift and COP16 will be an important opportunity to re-enforce the message that humanity and nature are intrinsically linked.”
It will be the first time countries have gathered since adopting the Kunming-Montreal Global Biodiversity Framework in 2022. The framework contains 23 groundbreaking targets that are designed to safeguard the natural world and that come due in 2030. Countries agreed to update their national plans for delivering on those targets by the time they arrive at COP16, which will feature a status check on how nations are faring.
“For this conference to be a success, we need to see evidence that countries are stepping up and translating the ambitions of the Global Biodiversity Framework into action at the national level,” said Gardner.
What role will genetics play at COP16?
A potentially huge one. Countries have vowed to share more broadly the profits that come from advances based on the genetic information of plants, animals and other living things. This information – which includes DNA – is stored digitally and is used by companies to develop everything from beauty products to blockbuster medicines to high-yield crops.
Governments have agreed to create a funding mechanism that would channel some of the profits from the use of this so-called digital sequencing information back into biodiversity conservation and the communities that protect nature. But it is not yet specified which businesses would pay into the fund, how much they should contribute, or how money would be distributed. Negotiators will try to answer those thorny questions at COP16.
Observers say these talks will be closely watched by players in the cosmetic, pharmaceutical and agriculture sectors. One idea under discussion has suggested companies contribute 1 per cent of their profits to the funding mechanism, a number that could stretch into the tens of billions of dollars.
Will financing feature prominently in discussions?
Yes. Talks will focus on how to scale up the amount of money dedicated to nature. The Kunming-Montreal Global Biodiversity Framework calls for countries to slash environmentally harmful subsidies by US$500 billion per year, and to spend US$200 billion annually on implementing their national biodiversity plans.
As part of this agreement, developed nations have committed to provide developing nations with US$20 billion annually to support biodiversity-related work, by 2025. At COP16, discussions will take place on the institutional arrangements for biodiversity finance and countries are expected to adopt an updated approach to mobilizing financial resources. Progress on those points would be an “important early signal” that developed countries are committed to delivering on the ambitions of the Global Biodiversity Framework, said Gardner.
