Stockholm (NordSIP) – The reconvened 16th Conference of the Parties to the Convention on Biological Diversity (COP16) that took place in Rome from 25 to 27 February 2025 has been hailed as a relative success. While these international UN-sponsored biodiversity negotiations normally run on a biennial schedule, this extraordinary session was deemed necessary following the lack of agreement at last year’s COP16 in Cali, Colombia. Considering the highly contentious previous session and the current backdrop of rising geopolitical tensions, the Rome delegates broke out in spontaneous applause upon the final adoption of key agenda points.
Progress on nature finance
The practical and financial underpinnings of the 2022 Kunming-Montreal Global Biodiversity Framework (KMGBF) have finally begun to take shape. A roadmap was put in place for the delivery of $200 billion worth of nature finance per year by 2030, $30 billion of which will flow from wealthier nations to the developing world. Crucially, the delivery of this funding will require the involvement of finance and environment ministers. This raises the level of the international dialogue and reflects current practice relating to climate action.
Complaints from developing countries about their lack of oversight and access to the current Global Environment Facility (GEF) were addressed in principle if not in practice, with the acknowledgement by participating wealthy nations that a new type of fund may be beneficial. The final decision of this subject has been deferred to 2028. The GEF is regarded as an interim financial mechanism, which has thus far approved over $3 billion in support of the KMGBF between June 2022 and December 2024, as well as generating some $22 billion worth of co-financing, including $1.9 billion from the private sector. The GEF also hosts the Global Biodiversity Framework Fund (GBFF), created in response to a request from COP 15.
Accountability mechanism agreed
COP17 will take place in Yerevan, Armenia in 2026 and aims to include a global stocktake of signatory nations’ achievements towards their stated biodiversity restoration and protection goals. The Rome session sought to put some meat on the bones of the mechanism for Planning, Monitoring, Reporting and Review (PMRR) agreed at COP15. Delegates were able to agree on the common metrics and methodology to be used and how the results will be reviewed at COP17. Commitments from non-state entities such as youth or women’s organisations, indigenous peoples and local communities, civil society, the private sector and sub-national governments will now be included in the PMRR Mechanism.
Fair compensation for genetic resource use
The proposed levy on companies benefiting from genetic resources in nature was another major agenda point still pending from COP16. Following further discussions in Rome, the Cali Fund for the Fair and Equitable Sharing of Benefits from the use of Digital Sequence Information on Genetic Resources (DSI) (The ‘Cali Fund’) was successfully launched on 26 February 2025. Relevant companies meeting certain revenue and size criteria will be required to contribute 1% of profits or 0.1% of revenue to the Cali Fund. At least 50% of the fund resources will be allocated to indigenous peoples and local communities, in recognition of their role as custodians of biodiversity.
Commenting on the various successes of the extraordinary Rome meeting, COP16 President Susana Muhamad said: “These days of work in Rome have demonstrated the commitment of the Parties to advance the implementation of the Global Biodiversity Framework. The COP 16 presidency recognises the collective effort to reach consensus of key issues that were left pending in Cali. We appreciate the willingness of all countries and the Secretariat of the Convention for their dedication to continue strengthening the global biodiversity agenda. Only by working together can we make Peace with Nature a reality.”
