Finance for Biodiversity Foundation participates in the upcoming fourth meeting of the Subsidiary Body on Implementation (SBI-4)
May 21, 2024
Finance for Biodiversity Foundation at COP16
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) will be a key moment for global biodiversity. World leaders will gather and discuss measures to halt and reverse biodiversity loss.
Attended by participants from over 190 countries, COP16 will bring 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 Biodiversity Plan goals.
Join our delegation at COP16
Join the Finance for Biodiversity (FfB) delegation and showcase your commitment to biodiversity at COP16! Sign the pledge now to be celebrated in Cali, Colombia. The sign-up period closes on 6 September.
What will be at stake at COP16?
COP16 is the first Conference of the Parties since the adoption of the Biodiversity Plan (formerly called 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 for the Biodiversity Plan.
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 Biodiversity Plan goals.
COP16 official programme
The official agenda for COP16 is still being finalised by the CBD Secretariat. These are the current key dates of the Official Programme.
26 October
Latin American Finance Day
27 October
Business Day
28 October
Finance and Biodiversity Day
29-30 October
High-Level Segment
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 Biodiversity Plan 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 Biodiversity Plan
Engaging with governments and stakeholders to encourage them to implement the Biodiversity Plan 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 Biodiversity Plan, aiming to mobilise additional resources for biodiversity.
Read more on our policy messages and activities
Aligning Financial Flows with the Global Biodiversity Framework
This paper has been developed by the FfB Foundation and our members to outline concrete actions that governments need to take to implement the Kunming-Montréal Global Biodiversity Framework (GBF).
Read the paper
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.
Read the opinion piece
Benefits of participation at COP16 as a financial institution
In addition to the 196 country representatives, there will also behigh-level attendance by ministers and heads of state. Besides the officialnegotiating countries, there will also be non-party stakeholders.
Non-state actors attend the UN(United Nations) conference to demonstrate action and progress on voluntarycommitments, drive political ambition, and build collaborations on the path tonature recovery. As a financial institution, you can benefit from attending COP16 to achieve two main goals:
Ask for ambitious implementation measures from governments to meet the goals and targets of the Biodiversity Plan (previously known as GBF)
Showcase your progress on biodiversity to demonstrate market leadership on voluntary commitments
Join the FfB delegation at COP16 now
All FfB Pledge signatories can join the FfB delegation, and we invite you to be part of the finance sector mobilisation: become a signatory to showcase your commitment to the protection of biodiversity at COP16!
This round of new signatories will be celebrated during COP16 CBD in Cali, Colombia. The sign-up period will close on 6 September.
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