Ministers and private sector dialogue on subsidies raises ambitions at COP17
As we entered the final days of COP17 in Yerevan, on Wednesday 28 October representatives from nine governments met at the event Reforming Biodiversity Harmful Financial Flows: Accelerating Action Towards Target 18, hosted by the Government of the Netherlands, to discuss incentives reform.
A demonstration of readiness on incentive reform from Ministers
Hosted by Jaimi van Essen, Minister of Agriculture, Fisheries, Food Security and Nature of the Netherlands, the event saw Ministers and Ambassadors from the United Kingdom, Finland, France, Colombia, Belgium, Brazil, Norway, Indonesia and the Netherlands share examples of incentive reform efforts in their countries.
A clear call to action from businesses and financial institutions
The event closed with a statement from Jacco Minnaar, CCO of Triodos Bank, delivering a statement of support from business and financial institutions. He also officially presented the letter from more than 130 global businesses and financial institutions, launched on 6 October and coordinated by Business for Nature and the Finance for Biodiversity Foundation.
Incentives reform: a key topic of discussions at COP17
Target 18 is a key item of negotiations in the Global Review discussions and a clear priority for the Armenian COP17 Presidency. To advance progress on incentive reform, the Presidency launched the Yerevan Call for Positive Incentives, which establishes a Biodiversity Finance Challenge, alongside the Friends of Target 18 initiative. You can find more information on the Yerevan Call on Incentives Positive to Biodiversity in the COP17 Presidency Flagship Initiatives.
