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UN CBD COP16
21 October to 1 November 2024
Cali, Colombia
The sixteenth meeting of the Conference of the Parties to the Convention on Biological Diversity (CBD COP16) was a key moment for global biodiversity. World leaders gathered and discussed measures to halt and reverse biodiversity loss.
Attended by participants from over 190 countries, COP16 brought together governments, observer organisations, indigenous communities, businesses, youth groups, civil society, academia, and the general public.
Mobilising the finance sector is crucial for achieving successful outcomes at COP16 and aligning financial flows with the Kunming-Montreal Global Biodiversity Framework.
What will be at stake at COP16?
COP16 is the first Conference of the Parties since the adoption of the Global Biodiversity Framework. It is considered an “implementation” COP, and it presents an opportunity for transformative change to address the biodiversity crisis.
Parties to the Convention are expected to show the alignment of their National Biodiversity Strategies and Action Plans (NBSAPs) with the Framework. COP16 will further develop the monitoring framework and advance resource mobilisation.
Among other tasks, COP16 is also due to finalise and operationalise the multilateral mechanism on the fair and equitable sharing of benefits from the use of digital sequence information on genetic resources.
To be successful, it must highlight the necessary actions to be taken by all stakeholders, including the financial sector, to urgently halt and reverse biodiversity loss. Mobilising the finance sector is crucial for achieving successful outcomes at COP16 and aligning financial flows with the Kunming-Montreal Global Biodiversity Framework.
The FfB Foundation activities at COP16
The Finance for Biodiversity (FfB) Pledge was launched in September 2020 as a call on global leaders to take effective measures to reverse biodiversity this decade and to ensure ecosystem resilience. FfB Foundation has been an observer member of the CBD since 2021, and we will organise several activities at COP16, just like we did during COP15.
FfB Foundation involvement at COP16 will occur through the following responsibilities:
Observer member of the CBD since 2021
Member of the CBD Advisory Committee of Resource Mobilisation
Key partner of the COP16 Finance & Biodiversity Day
Our key policy messages and activities
Financial institutions call for governments to strengthen, broaden, and accelerate their national biodiversity policies and strategies. As COP16 approaches, the FfB Foundation and its members will develop more content expressing our position on how COP16 can support the local implementation of the Kunming-Montreal Global Biodiversity Framework towards the alignment of financial flows with the global biodiversity goals and targets.
With our financial institutions’ community, we will focus our policy engagements on the following topics:
Supporting global ambitions
The presence of financial institutions can urge global leaders to take effective actions to halt and reverse biodiversity loss and ensure ecosystem resilience, notably through the alignment of financial flows with global goals and targets.
Implementation of the KMGBF
Engaging with governments and stakeholders to encourage them to implement the KM Global Biodiversity Framework targets (14, 15, 18, and 19) locally through National Biodiversity Strategy and Action Plans (NBSAPs) as outlined in our paper, ‘Aligning Financial Flows: Translating ambition into action’.
Resource mobilisation strategy
Advocate for aligning financial flows from all sources to achieve Goal D and Target 19 of the Kunming-Montreal Global Biodiversity Framework, aiming to mobilise additional resources for biodiversity.
Read more on our policy messages and activities
FfB Foundation Urges World Leaders to Implement Concrete Actions to Align Financial Flows with the GBF Ahead of COP16
This statement calls on world leaders to urgently implement concrete action to align financial flows with the Global Biodiversity Framework.
Closing the biodiversity funding gap is addressing systemic challenges
Emine Isciel of Storebrand Asset Management, co-chair of the FfB Foundation’s Public Policy Advocacy working group, has authored this Op-Ed ahead of the UN CBD COP16 preparatory meetings in May 2024, in Nairobi, Kenya.