Biodiversity Funding and Policy at COP16 in Rome

The 16th Conference of the Parties (COP16) to the Convention on Biological Diversity (CBD) is set to reconvene in Rome, Italy, from February 25 to 27, 2025. This meeting comes after a previous session in Cali, Colombia, was interrupted due to a lack of quorum, leaving vital financial decisions unmade. The world is watching as global leaders strive to fulfil their commitments to protect the planet’s biodiversity.

Key Objectives of COP16

The Rome session will focus on securing financial resources for biodiversity conservation. A agenda item is the official launch of the Cali Fund, aimed at ensuring equitable distribution of financial benefits from digital sequence information (DSI). This fund will support Indigenous communities and biodiversity efforts.

Financial Commitments and Challenges

Delegates will discuss strategies to raise $200 billion annually for biodiversity by 2030. This includes increasing Official Development Assistance to at least $20 billion per year by 2025, escalating to $30 billion by 2030. The need for a dedicated global biodiversity fund is also on the table.

Monitoring Progress in Biodiversity Goals

A proposed Monitoring Framework will establish clear indicators to track the 23 global biodiversity targets. These targets include habitat protection, pollution control, and sustainable resource use. Governments aim to finalise reporting mechanisms before the global review at COP17 in 2026.

Involvement of Indigenous Peoples and Local Communities

The formal recognition of Afro-descendant communities under Article 8(j) strengthens their role in biodiversity decision-making. A special group has been created to ensure that Indigenous Peoples, women, youth, and civil society can actively participate in monitoring efforts.

Existing Biodiversity Funds

Delegates will evaluate current biodiversity funds, including the Global Biodiversity Framework Fund, which has received nearly $400 million in pledges. The newly launched Kunming Biodiversity Fund, backed by China with a $200 million contribution, will also be discussed.

Future Implications

The outcomes of the Rome meeting will influence discussions at COP17 in Yerevan, Armenia, in 2026. With biodiversity under severe threat, there is immense pressure on governments to show tangible progress in funding and implementing biodiversity commitments.

Questions for UPSC:

1. Examine the role of Indigenous Peoples in biodiversity conservation efforts globally.
2. Discuss the significance of the Kunming-Montreal Global Biodiversity Framework in addressing biodiversity loss.
3. Critically discuss the financial mechanisms proposed to support biodiversity conservation by 2030.
4. With suitable examples, analyse the impact of digital sequence information on biodiversity funding and policy.

Answer Hints:

1. Examine the role of Indigenous Peoples in biodiversity conservation efforts globally.

1. Indigenous Peoples possess traditional ecological knowledge crucial for sustainable resource management.
2. They play a vital role in protecting biodiversity through stewardship of ancestral lands.
3. Inclusion of Indigenous rights in policy frameworks enhances conservation outcomes.
4. Indigenous-led initiatives often lead to successful biodiversity restoration projects.
5. Recognition of their contributions is essential for equitable decision-making in environmental governance.

2. Discuss the significance of the Kunming-Montreal Global Biodiversity Framework in addressing biodiversity loss.

1. The framework sets ambitious targets to halt biodiversity loss and restore ecosystems by 2030.
2. It emphasizes integrated approaches across sectors to enhance biodiversity conservation efforts.
3. Provides a global platform for accountability and cooperation among nations.
4. Encourages financial commitments to support biodiversity initiatives and sustainable practices.
5. Facilitates monitoring and reporting mechanisms to track progress on biodiversity goals.

3. Critically discuss the financial mechanisms proposed to support biodiversity conservation by 2030.

1. Aim to raise $200 billion annually for biodiversity conservation by 2030 through various funding sources.
2. Increase Official Development Assistance to at least $20 billion per year by 2025, rising to $30 billion by 2030.
3. Establishment of dedicated global biodiversity funds to ensure targeted financial support.
4. Encouragement of private sector investments and partnerships in biodiversity projects.
5. Implementation of innovative financing mechanisms, such as biodiversity credits and green bonds.

4. With suitable examples, analyse the impact of digital sequence information on biodiversity funding and policy.

1. Digital sequence information (DSI) enables the sharing of genetic data, encouraging research and innovation in conservation.
2. It raises ethical and legal concerns regarding ownership and benefit-sharing from genetic resources.
3. The Cali Fund aims to ensure equitable distribution of benefits derived from DSI, supporting Indigenous communities.
4. Countries like India have sought to incorporate national rights into DSI agreements, influencing global policies.
5. DSI can enhance funding opportunities by attracting investments in biotechnological advancements and biodiversity conservation.