Rome, 28 February 2025 – Governments have agreed on a comprehensive strategy to secure the necessary funds for biodiversity protection and achieve the Kunming-Montreal Global Biodiversity Framework (KMGBF) targets. The agreement reached in Rome marks the successful conclusion of the 16th UN Biodiversity Conference of Parties (COP16), which resumed after being suspended in Cali, Colombia, in 2024.
The agreement focuses on a multi-faceted resource mobilization approach to closing the global biodiversity finance gap. This includes a commitment to mobilizing at least $200 billion annually by 2030, including $20 billion annually in international flows by 2025, rising to $30 billion by 2030. A key element is the establishment of permanent financial mechanisms to support the Convention on Biological Diversity, alongside improvements to existing financial instruments.
According to Susana Muhamad, COP16 President, discussions in Rome have demonstrated a strong commitment to advancing the Global Biodiversity Framework and creating lasting solutions for biodiversity protection.
Astrid Schomaker, Executive Secretary of the Convention on Biological Diversity, recognizes the crucial role of multilateral cooperation in achieving this goal.
The meeting also resulted in adopting a new Strategy for Resource Mobilization, tapping into diverse funding sources, including public finance, private investment, and philanthropic contributions. This strategy complements the ongoing work of the Global Environment Facility (GEF), which has already approved over $3 billion in support for biodiversity initiatives, leveraging an additional $22 billion in co-financing, including significant private-sector involvement. COP16 also agreed on key steps for ongoing collaboration and establishing a multi-year program of work, which will be discussed further at COP17. The global commitment to biodiversity, coupled with the development of new financial mechanisms and enhanced monitoring frameworks, provides a solid foundation for achieving the goals of the Kunming-Montreal Global Biodiversity Framework
