From the Cop16.2 of Rome a 200 billion plan for biodiversity: will it be enough?

An applause greeted the approval of the document “Resource mobile and financial mechanism“At the COP16.2 in Rome, marking a turning point in global efforts to protect biodiversity. After the suspension of the works a Loss In 2024, delegates from all over the world met in the Italian capital to face the crucial challenge of financing the objectives of Global picture on Kunming-Montreal’s biodiversity (KMGBF). The agreement reached, the result of intense negotiations, traces a roadmap to fill the financial gap e mobilize at least 200 billion dollars a year by 2030including 20 billion dollars a year in international flows by 2025, which will rise to 30 billion by 2030.

However, the enthusiasm for this important step forward is mitigated by the awareness that the resources allocated remain insufficient and that the path towards “peace with nature” is still long. The WWF and other environmental organizations welcomed the agreement, but underlined the need for a greater commitment by developed countriesin particular with regard to compliance with the commitment to mobilize 20 billion dollars a year in international flows by 2025.

A compromise between old and new funds

One of the main knots of the debate revolved around the use of the Global Environment Facility (Gef) as a tool for the Biodiversity Finance. Some countries, including Russia, consider discriminatory Gef, since access is precluded to those who are subject to international sanctions. The agreement reached in Rome provides for important reforms to Gef to ensure access to the Trust Fund by all countries.
In addition, until 2030, more funds will be possible, new, old and reformed, aligned with the address of climatic funds, such as the Green Climate Fund. This convergence between negotiating paths represents a positive sign for the future of finance for biodiversity. Within the COP18 on biodiversity, in 2028, it will be necessary to establish as the only financial infrastructure will manage the Biodiversity Finance under the auspices of the COP.

How to achieve the goal of 200 billion?

The mobilization of the resources necessary to achieve the target of $ 200 billion a year by 2030 represents a complex challenge. The agreement provides for a four -year plan involving the Gef and underlines the importance of the ninth refinancing of the Gef, currently underway.

For the first time, an interministerial dialogue opens between all the ministries of the environment and the economy and finance to find the right resources, involving public, private, philanthropic and multilateral funds. It is also expected that At least 20% of the funds go to indigenous communitiesrecognizing their crucial role in the conservation of biodiversity.

The Cali Fund: a new era for the finance of biodiversity

An important result achieved in Rome was the launch of the Bottomwhich will receive contributions from the entity of the private sector that make commercial use of information of Digital sequence on genetic resources (DSI). The Cali Fund represents a new era for the finance of biodiversity, as it exploits financing in the private sector. The companies that make commercial use of DSI now have to contribute with a part of their revenues or their profits to the fund. At least 50% of the resources of the Cali Fund will be assigned to indigenous populations and local communitiesrecognizing their role as custodians of biodiversity.

Monitoring and responsibility

The agreement also provides for the strengthening of the monitoring, reporting and review mechanisms (PMRR) to ensure responsibility and transparency in the implementation of the KMGBF. A complete set of indicators was also agreed to measure global and national progress towards the implementation of the KMGBF.

The challenge continues: the appeal of the WWF and the role of Italy

Despite the progress achieved, the WWF underlines that the COP16.2 represents only a first step. Efraim gomezdirector of the WWF global policy, warns that “developed countries are not yet on the way to honor their commitment to mobilize 20 billion dollars by 2025 in favor of developing countries”. Investing in nature is essential to mitigate the climatic crisis, guarantee the resilience of ecosystems and achieve sustainable development objectives.

Italy, which hosted the resumption of the COP16, has an important role to play in this process. Bernardo Tarantino of the WWF Italia, he asks for “greater commitment and leadership” by the Italian government to carry out the diplomatic agenda for the protection of nature.

Towards Cop30 in Brazil

The next crucial appointment will be the Cop30 in Brazil, focused on climate change. The event, which will be held in the Amazon Forest, must send a strong signal on the urgency of protecting nature and reducing deforestation. The next COP on biodiversity will instead be held in Yerevan, Armenia, in 2026.

The agreement reached in Rome marks significant progress, but the challenge is now translating the commitments into concrete actions. The financing of biodiversity is crucial, but without verification mechanisms and a wider financial commitment, the risk is that the promises remain a dead letter. The COP16.2 has laid the foundations for a more sustainable future, but success will depend on the will of the governments to invest in nature and to collaborate to achieve the objectives of the KMGBF.