The extended session of COP16 in Rome ended on February 28 with a major agreement to tackle the global nature crisis. Delegates met to resolve financing issues left unresolved at COP16 in Cali, Colombia (November 2024). The next COP17 will be held in Yerevan, Armenia, in 2026.
Key Agreements
- Governments finalized a strategy to mobilize funds for biodiversity protection and to meet the goals of the Kunming-Montreal Global Biodiversity Framework (KMGBF).
- Parties agreed on biodiversity finance, planning, monitoring, and reporting to track progress.
The deal includes measures to protect 30% of the planet and restore 30% of degraded ecosystems by 2030. Currently, only 17% of land and 8% of marine areas are protected. - A plan was approved to raise at least $200 billion annually by 2030, including $20 billion per year by 2025, increasing to $30 billion by 2030 in international funding.
- Permanent financial mechanisms will be established alongside improvements to existing instruments.
- A monitoring framework was finalized to ensure transparency and accountability in tracking progress toward biodiversity goals.
The agreement marks a significant step in global efforts to halt and reverse nature loss, ensuring funding and collaboration to protect ecosystems and the rights of Indigenous Peoples.
