A Hard-Won Compromise

The talks, which resumed after the stalled COP16 summit in Colombia, saw developing nations push for a new biodiversity fund, arguing that existing mechanisms are inefficient. Donor countries resisted, citing high costs, but a compromise was reached: a process to evaluate the fund's necessity by 2028.

The conference also established the Cali Fund, designed to channel financial contributions from industries benefiting from genetic resources—such as pharmaceuticals and cosmetics—with at least 50% earmarked for Indigenous and local communities.

A Major Step, but Challenges Remain

While environmental groups hailed the deal as a breakthrough for biodiversity, many warn that implementation remains uncertain. The global biodiversity funding gap stands at $700 billion per year, and some experts fear that financial commitments could fall short.

"Governments are still subsidizing activities that destroy nature," said Anders Haug Larsen of the Rainforest Foundation Norway. "Now, it's time to fund efforts that restore and protect it."

What's Next?

The agreement advances the goals of the Kunming-Montreal Global Biodiversity Framework (GBF), which aims to halt and reverse biodiversity loss by 2030. Key targets include:

✅ Protecting 30% of the planet's land, water, and oceans (30x30 target)
✅ Cutting plastic pollution and pesticide use
✅ Reducing invasive species by 50%
✅ Eliminating subsidies that harm biodiversity

With clear funding mechanisms and monitoring milestones now in place, COP16 has set the stage for urgent action leading up to COP17 and beyond. However, as experts warn, the real test will be in turning financial promises into tangible conservation efforts.