The plenary session of COP16 resumes today in Rome led by Acting Minister of Environment Susana Muhamad, under the presidency of Colombia. At the event, Colombia aims to secure consensus on mobilizing resources to implement the Kunming-Montreal Global Biodiversity Framework.
During a press conference ahead of the plenary, COP16 President Susana Muhamad reiterated the urgency of ensuring that appropriate funding is made available to ensure the conservation and sustainable use of biodiversity.
The question as to how to finance key strategies for biodiversity protection have remained unresolved since the COP16 summit held four months ago in Cali, Colombia.
Colombia pushes for financial agreement at COP16 plenary
From October 21 to November 1 2024, the city of Cali, Colombia, successfully hosted the COP16 summit, which attracted significant participation. Over the course of eleven days, global leaders debated key agreements aimed at preserving biodiversity.
While a general consensus was reached on major issues, negotiations stalled when it came to securing international financial resources to fund the agreed-upon initiatives.
For this reason, Colombia is now making financial commitments the priority for the COP16 plenary session, which takes place from today until Thursday at the headquarters of the Food and Agriculture Organization (FAO) in Rome.
“I am hopeful that the path we have opened can send a strong message from Rome and from the Biodiversity Convention. That message is that even in a highly fragmented geopolitical landscape, in a world increasingly marked by conflict, we can still achieve agreements on key issues,” Muhamad said.
The acting Environment Minister, who has been serving in a temporary capacity since formally submitting her resignation weeks ago, added, “One of the most critical aspects is the need to protect life amid the crises of climate change and biodiversity loss. This will be the focus of the next three days – an intense meeting entirely dedicated to negotiation.”
Colombia has consistently emphasized the need for strong and accessible financial mechanisms for developing countries, and recognizes biodiversity as a global asset that must be safeguarded through sustainable and equitable investments. Discussions at the COP16 plenary will therefore explore various funding options, including international cooperation and private sector contributions.
Related: COP16 Plenary Ends With Historic Biodiversity Financing Agreement.
COP16 achievements
Astrid Schomaker, Executive Secretary of the Convention on Biological Diversity (CBD), highlighted the success of the Cali summit: “Cali was a productive meeting, and its spirit has guided us toward a major commitment. We are confident that, under the leadership of President Susana Muhamad, we can transform the ‘Spirit of Cali’ into the ‘Spirit of Rome’ and leave this meeting in three days with a resolution on the pending issues.”
Schomaker also noted that the discussions at this gathering are closely linked to preparations for COP17 in Armenia, where the first global assessment of the convention’s progress will take place.
Last October’s Cali summit resulted in key breakthroughs for COP16 negotiations. These included the establishment of a subsidiary body to ensure the participation of Indigenous peoples and local communities in biodiversity-related decision-making.
Additionally, the Cali Fund was created, requiring companies that utilize genetic resources derived from biodiversity to contribute a portion of their revenues to the fund.
Another major milestone was the designation of Ecologically or Biologically Significant Marine Areas (EBSAs), a measure designed to help achieve the global goal of conserving 30% of marine areas by 2030. These advancements will play a crucial role in shaping negotiations in Rome.