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COP16: More progress needed on global biodiversity efforts to meet 2030 goals

7 November 2024

After the adoption of the Global Biodiversity Framework in 2022, COP16 showed how much progress has been made against its goals – and there is more work to be done.

The sun has now set on COP16 – the latest biodiversity summit held by the UN Convention on Biological Diversity (CBD) in Cali, Colombia. The event ended with some progress on funding and the role of Indigenous Peoples and local communities, but negotiations ended before further progress could be made on wider finance mobilisation and a monitoring framework. 

Biodiversity is crucial to the health of natural ecosystems and to supporting the people who rely on them. The mission of the Accountability Framework initiative (AFi) is to eliminate deforestation, ecosystem conversion, and human rights violations from commodity supply chains. As both deforestation and conversion are major drivers of nature loss, progress on both biodiversity and responsible supply chains go hand in hand. 

COP16 was the first event since the Kunming-Montreal Global Biodiversity Framework (KMGBF) was adopted in 2022, which set out 23 biodiversity targets for 2030. This year’s summit set the stage for policymakers and stakeholders to discuss what progress has been made to date, how to scale up nature-based solutions, and ways to integrate biodiversity commitments into policy and business goals.  

Unfortunately, progress so far has been slow. Of the 196 member states, only 44 countries have submitted their National Biodiversity Strategies and Action Plans (NBSAPs), and some countries are lagging far behind on committing to their fair share of financial support.  

Key outcomes of COP16 

Some of the key outcomes and important news from the summit include: 

  • Funding biodiversity efforts: A notable result from COP16 was the creation of the Cali Fund, a global fund designed to share the benefits from the use of digital sequence information (DSI) from genetic resources (such as plants and animals). The fund asks that companies commercially benefit from DSI (such as food and pharmaceutical companies) contribute to the fund, of which 50% will go towards supporting Indigenous Peoples and local communities (IP and LC). However, no decision was made on the wider discussions around broader funding and resource mobilisation for the implementation of the KMGBF. 

  • Strengthening Indigenous Peoples’ rights: The CBD adopted a new programme of work under Article 8(j) and created a permanent Subsidiary Body aimed at strengthening the role of IP and LC in future CBD decision-making. This aims to ensure that the rights, contributions, and traditional knowledge of IP and LC are considered in further biodiversity discussions and efforts. 

  • Disclosing on nature: The Taskforce on Nature-related Financial Disclosures (TNFD) announced a total of 502 companies and financial institutions have committed to voluntary reporting on nature-related issues in line with its recommendations. The AFi contributed to the development of the TNFD and it aligns with the Accountability Framework’s definitions. 

Updates from the AFi Coalition at COP16 

Many members of the AFi Coalition were on site for COP16 to host events, speak on panels, and take part in crucial discussions with stakeholders. See highlights from AFi Coalition members listed below: 

  • Ceres’ Nature Action 100 initiative announced the results of the first company benchmark of corporate progress towards its Investor Expectations for Companies, which shows most companies are beginning to address their nature-related impacts and dependencies. 

  • WWF signed an agreement with the European Investment Bank to develop an incubator for nature-based solutions, with the aim of creating projects that will protect people and economies from the impacts of climate change.  

In addition, after the event several AFi Coalition members released statements on the outcomes of COP16 and priorities for the future, including: Conservation International, the Rights and Resources Initiative, Rainforest Foundation Norway, The Nature Conservancy, the World Resources Institute, and WWF

See how the Accountability Framework can help 

Want to take action on biodiversity loss? The Accountability Framework offers robust guidance to companies on how to address deforestation and ecosystem conversion in their agricultural and forestry commodity supply chains. Click the button below to find out more. 

Find out more about the Accountability Framework  

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