COP17 Final Review: Biodiversity Targets Off Track by 2030

ArmInfo. The International Institute for Sustainable Development (IISD) has published a final analytical review of the negotiations at the 17th Conference of the Parties to the UN Convention on Biological Diversity (COP17).

The document, called the Earth Negotiations Bulletin (ENB), states that despite increased political will and participation, the current pace of progress will not allow the achievement of the 2030 targets. The gap is particularly noticeable in areas such as reducing the negative impacts of business, ensuring sustainable consumption, capacity building, and technology transfer. The main problem is the gap between commitments and real actions.

At the same time, the report notes that, thanks to informal consultations and the skillful leadership of COP17 President, Armenian Minister of Environment Hambardzum Matevosyan, agreement was reached on a number of previously divisive issues. The decisions were made on October 31 after negotiations that lasted until late into the night.

In particular, the parties reached a compromise on the criteria for the financial mechanism and an approach to voluntarily expanding the circle of countries providing funding. However, the final structure of the permanent financial mechanism remains open; work on this area will continue until COP19.

Furthermore, areas for accelerating action within the framework of the Kunming-Montreal 2030 Global Biodiversity Framework were identified, including strengthening national commitments, expanding funding, improving monitoring, and engaging all of society.

Following COP17, a working group was established to further develop a multilateral benefit-sharing mechanism, including the Cali Fund (a global financial mechanism established under the Convention on Biological Diversity for the equitable sharing of benefits from the use of digital information on genetic resources). It was clarified that eligibility for a Fund certificate is granted only upon making cash contributions in accordance with established benchmark rates – 1% of profits or 0.1% of revenue.

Due to time constraints, some draft decisions were not adopted and have been deferred to the next conference. These include issues of cooperation with other conventions and the global multilateral benefit-sharing mechanism under the Nagoya Protocol.

According to the document, COP18 will be held in Ecuador in the fourth quarter of 2028.