Finance and the Global Biodiversity Framework: navigating the road to COP16

This webinar provided information on the upcoming UN Biodiversity Conference COP16, scheduled for October 2024 in Cali, Colombia.

Participants deepened the preparations made by governments and private financial sectors to effectively translate their aspirations into actionable plans for the implementation of the Kunming-Montreal Global Biodiversity Framework (GBF).

This landmark agreement was adopted by 196 parties at COP15 of the United Nations Conference on Biodiversity in December 2022 to guide global action on biodiversity and nature. It provides a framework for bold action and policy alignment across economic sectors, with a clear call to align public and private financial flows with its mission to halt and reverse biodiversity loss by 2030.

During the webinar, more details were provided on the preparation of COP16, delving into the process of updating countries of their National Biodiversity Strategies and Action Plans (NBSAPs) after the adoption of the MGB. In addition, discussion was facilitated among representatives of financial institutions, exploring how to collaborate with governments in the implementation of MGB and their needs in creating an enabling policy environment to reduce the negative impact and increase the positive impact on biodiversity through investments.