UN Biodiversity Conference agrees on steps towards more effective financing – “Victory of multilateral cooperation”
The resumed session of the UN Biodiversity Conference in Rome reached an understanding on developing the financial architecture for biodiversity and on the monitoring and common review of biodiversity work.
“First of all, this is a victory of multilateral cooperation. Even in this very challenging geopolitical situation, the countries could show that that a common ground can be found in questions that have been troubling us for years. After difficult negotiations we now have clear steps by which we can proceed in our work to halt biodiversity loss,” Minister of Climate and the Environment Sari Multala says.
Permanent financing solution to be created for CBD within next few years
Financing to halt biodiversity loss must be increased considerably, which requires expanding the financial base and finding new, innovative sources. In Rome the countries agreed on steps to be taken in the next Biodiversity Conferences and between these to increase financing and make it more effective.
Before the meeting in Rome, it was not clear how the global biodiversity financing would be organised on a permanent basis for the post-2030 period. Now it was decided that the present financing system will be evaluated and its effectiveness improved. Based on the evaluation, a decision will be made whether developing and improving the existing financial instruments will be enough or whether new financing mechanisms will be needed.
“Money flows coming from different sources must be more effectively directed to biodiversity work. Subsidies with harmful impacts must be tackled and, in future, effective financing for strengthening biodiversity must also be sought from new means and by expanding the financial base,” Multala says.
The countries were in agreement on the important role of the present Global Environmental Fund GEF as a temporary financing mechanism for supporting international biodiversity actions. However, it will be for the future Biodiversity Conferences to decide whether GEF is an adequate financing mechanism for implementing CBD. Among other things, this will be based on the review of the financial sources to be carried out before the next Conference. The funds allocated from GEF to actions in support of biodiversity during the current period (2022–2026) have been record high. At the meeting the countries provided guidance to the negotiations on the ninth additional financing period, which are not expected to be easy.
Common rules for monitoring actions to halt biodiversity loss and reporting on this
The countries also agreed on the monitoring, reporting and review of the implementation of the global biodiversity targets. In future the Parties to the Convention will use a common framework and indicators to report on their work to halt biodiversity loss. Besides the 49 main indicators, the countries can use supplementary voluntary indicators. The indicators concerning pollution, land rights and ecological footprint were finalised in Rome.
All countries that are Parties to the Convention must submit their next reports in February 2026, and the decisions made at the meeting will provide clear guidelines and a structure for this. The UN Biodiversity Conferences to be held in 2026 and 2030 will consider how we will proceed in the efforts to halt biodiversity loss. The first global review of the progress will be produced before the 2026 Biodiversity Conference.
“The outcomes of the meeting in Rome are highly important for halting biodiversity loss. Now we have concrete steps for the targets, methods and roadmap. Finland’s country report will be an important part of the implementation and of the global review. As before, the national report will be compiled in broad cooperation and with contributions from the biodiversity working group,” Chief Negotiator Marina von Weissenberg says.
The resumed session of the UN Biodiversity Conference in Rome was organised because key issues remained unresolved in Cali, Colombia last November. The next Biodiversity Conference will be held in Armenia in 2026.
Inquiries
Lyydia Ylönen
Special Adviser to Minister of Climate and the Environment Sari Multala
tel. +358 50 476 1341
Marina von Weissenberg
Finland’s Chief Negotiator for UN Convention on Biological Diversity
tel. +358 50 307 0806
Laura Rajaniemi (financial questions)
Counsellor
Ministry for Foreign Affairs
tel. +358 50 477 1612
Riikka Lamminmäki (requests for interviews with Minister Multala and negotiators)
Director of Communications
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