Finance for Biodiversity Foundation at COP16

What will be at stake at COP16?

COP16 is the first Conference of the Parties since the adoption of the Global Biodiversity Framework. It is considered an “implementation” COP, and it presents an opportunity for transformative change to address the biodiversity crisis.

Parties to the Convention are expected to show the alignment of their National Biodiversity Strategies and Action Plans (NBSAPs) with the Framework. COP16 will further develop the monitoring framework and advance resource mobilisation.

Among other tasks, COP16 is also due to finalise and operationalise the multilateral mechanism on the fair and equitable sharing of benefits from the use of digital sequence information on genetic resources.

To be successful, it must highlight the necessary actions to be taken by all stakeholders, including the financial sector, to urgently halt and reverse biodiversity loss. Mobilising the finance sector is crucial for achieving successful outcomes at COP16 and aligning financial flows with the Kunming-Montreal Global Biodiversity Framework.

Finance for Biodiversity Foundation at COP16

The Finance for Biodiversity (FfB) Pledge was launched in September 2020 as a call on global leaders to take effective measures to reverse biodiversity this decade and to ensure ecosystem resilience. FfB Foundation has been an observer member of the CBD since 2021, and we will organise several activities at COP16, just like we did during COP15.

FfB Foundation involvement at COP16 will occur through the following responsibilities:

• Observer member of the CBD since 2021.
• Member of the CBD Advisory Committee of Resource Mobilisation.
• Key partner of the COP16 Finance & Biodiversity Day.

Our key policy messages and activities

Financial institutions call for governments to strengthen, broaden, and accelerate their national biodiversity policies and strategies. As COP16 approaches, the FfB Foundation and its members will develop more content expressing our position on how COP16 can support the local implementation of the Kunming-Montreal Global Biodiversity Framework towards the alignment of financial flows with the global biodiversity goals and targets.

With our financial institutions’ community, we will focus our policy engagements on the following topics:

• Supporting global ambitions – The presence of financial institutions can urge global leaders to take effective actions to halt and reverse biodiversity loss and ensure ecosystem resilience, notably through the alignment of financial flows with global goals and targets.
• Implementation of the KMGBF – Engaging with governments and stakeholders to encourage them to implement the KM Global Biodiversity Framework targets (14, 15, 18, and 19) locally through National Biodiversity Strategy and Action Plans (NBSAPs) as outlined in our paper, ‘Aligning Financial Flows: Translating ambition into action’.
• Resource mobilisation strategy – Advocate for aligning financial flows from all sources to achieve Goal D and Target 19 of the Kunming-Montreal Global Biodiversity Framework, aiming to mobilise additional resources for biodiversity.