Our view on COP15

By Nicole Clucas, Principal Consultant

Ahead of COP15 in Montreal, the big question was whether the negotiations would deliver a Paris Agreement for nature. What seemed impossible at the outset was finally delivered, with governments agreeing the Kunming-Montreal Global Biodiversity Framework on 19 December.

The Framework includes a headline goal of ensuring that at least 30% of degraded terrestrial, inland water, coastal and marine ecosystems are under effective restoration by 2030. This is alongside a goal to “eliminate, phase out or reform incentives, including subsidies harmful for biodiversity” by 2025 and “progressively reduce” these subsidies by at least $500bn by 2030. The agreement also includes 23 targets to be delivered by 2030.

To be successful, the Framework needs to be translated into national goals and targets. National strategies will need to be updated to reach the global goal of reversing biodiversity loss by 2030. The aims will also only be achieved if nations, businesses, and investors can unlock sufficient finance to support the 23 targets. Similar to climate finance, current international funding for conservation and nature restoration falls far short of the levels needed. The Paulson Institute estimates that globally, the finance gap for reversing biodiversity loss by 2030 stands at a minimum of $598bn per year.

The Framework isn’t perfect - a target of a 5% increase in natural ecosystems by 2030 was removed from the final draft. There is also no commitment to address consumption patterns. Demands from richer countries for virgin resources will need to change for us to be able to protect vital habitats. There were also tensions during negotiations over funding between richer and poorer nations - a theme which will likely continue in the race to reach targets as we approach 2030.

There is still much to do, but if we see a significant increase in funding and extended political backing then I’m optimistic about what can be achieved as a result.