{"id":114643,"date":"2024-11-04T10:48:27","date_gmt":"2024-11-04T15:48:27","guid":{"rendered":"https:\/\/www.un.org\/sustainabledevelopment\/?p=114643"},"modified":"2024-11-04T10:48:27","modified_gmt":"2024-11-04T15:48:27","slug":"biodiversity-cop-16-important-agreement-reached-towards-goal-of-making-peace-with-nature-2","status":"publish","type":"post","link":"https:\/\/www.un.org\/sustainabledevelopment\/blog\/2024\/11\/biodiversity-cop-16-important-agreement-reached-towards-goal-of-making-peace-with-nature-2\/","title":{"rendered":"Biodiversity COP 16: Important Agreement Reached \u00a0Towards Goal of \u201cMaking Peace with Nature\u201d"},"content":{"rendered":"

CALI, Colombia 2 November 2024\u00a0 \u2014 The 16th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP 16) was suspended\u00a0 in the morning of Nov. 2 but not before countries agreed on an expanded role of Indigenous Peoples and local communities in saving biodiversity and a groundbreaking agreement on the operationalization of a new global mechanism to share benefits from digital genetic information.<\/span><\/p>\n

The strong results, built on a spirit of compromise, and dialogue, demonstrate that multilateralism can still achieve results in a fractious time.\u00a0 After roughly 12 hours of meeting in the Plenary session, at roughly 9 am COP 16 lost quorum and was suspended before approval of a few last items.<\/span><\/p>\n

It will resume at a later date and venue to complete the agenda.<\/span><\/p>\n

The results at COP 16 are important strides towards achievement of the 23 targets for 2030 laid out in the Kunming-Montreal Global Biodiversity Framework (KMGBF), adopted at the previous meeting of the Convention\u2019s 196 Parties in Montreal in 2022.<\/span><\/p>\n

With billions of people depending on nature\u2019s contributions, threats to biodiversity intensifying, and financial resources in short supply, the stakes at COP 16 were high.<\/span><\/p>\n

Among the notable achievements after 12-days of negotiations:<\/span><\/p>\n

\u201cCali Fund\u201d is Launched: Sharing the Benefits from Digital Genetic Information<\/span><\/b><\/p>\n

Having agreed at COP 15 to establish a multilateral mechanism, including a global fund, to share the benefits from uses of digital sequence information on genetic resources (DSI) more fairly and equitably, delegates at COP 16 advanced its operationalization \u2013 a historic decision of global importance.<\/span><\/p>\n

This complex decision addresses how pharmaceutical, biotechnology, animal and plant breeding and other industries benefiting from DSI should share those benefits with developing countries and Indigenous Peoples and local communities.<\/span><\/p>\n

Under the agreed guidelines, large companies and other major entities benefiting commercially from DSI uses should contribute to \u201cthe Cali Fund,\u201d based on a percentage of their profits or revenues. The model targets larger companies most reliant on DSI and exempts academic, public research institutions and other entities using DSI but not directly benefiting.<\/span><\/p>\n

Developing world countries will benefit from a large part of this fund, with allocations to support implementation of the KMGBF, according to the priorities of those governments.<\/span><\/p>\n

At least half of the funding is expected to support the self-identified needs of indigenous peoples and local communities, including women and youth within those communities, through government or by direct payments through institutions identified by indigenous peoples and local communities.\u00a0 Some funds may support capacity building and technology transfer.<\/span><\/p>\n

Strong monitoring and reporting will ensure industries see the impact of their contributions in a transparent and open way, and regular reviews will build the mechanism\u2019s efficiency and efficacy over time.<\/span><\/p>\n

This agreement marks a precedent for benefit-sharing in biodiversity conservation with a fund designed to return some of the proceeds from the use of biodiversity to protect and restore nature where help is needed most<\/span><\/p>\n

Strengthening the role of Indigenous Peoples and Local Communities in Biodiversity Efforts<\/span><\/b><\/p>\n

In a landmark decision at COP 16, Parties adopted a new Programme of Work on Article 8(j) and other provisions of the Convention related to indigenous peoples and local communities. This transformative programme sets out specific tasks to ensure the meaningful contribution of indigenous peoples and local communities towards the three objectives of the Convention ((a) the conservation of biological diversity, b) the sustainable use of biological diversity, and c) the fair and equitable sharing of benefits), as well as the implementation of the KMGBF. Through this Programme, rights, contributions and traditional knowledge of indigenous peoples and local communities are further embedded in the global agenda.<\/span><\/p>\n

Parties also agreed to establish a new permanent subsidiary body on article 8j and other Provisions, with its modus operandi to be developed over the next two years. The new Subsidiary Body is expected to elevate issues related to the implementation of Article 8j and enhance the engagement and participation of indigenous peoples and local communities in all convention processes.<\/span><\/p>\n

A further decision was taken to recognize the role of people of African descent, comprising collectives embodying traditional lifestyles, in implementing the Convention and in the conservation and sustainable use of biodiversity.<\/span><\/p>\n

<\/a>Funding Biodiversity: A Strategy for Resource Mobilization<\/span><\/b><\/p>\n

Parties at COP 16 will resume discussions later will resume discussions later to approve a new \u201cStrategy for Resource Mobilization\u201d to help secure $200 billion annually by 2030 from all sources to support biodiversity initiatives worldwide, representing one of the KMGBF\u2019s goals.\u00a0 Another is the redirection by 2030 of $500 billion per year in subsidies that harm biodiversity.<\/span><\/p>\n

Parties will also look at the possible creation of a new dedicated global financing instrument for biodiversity to receive, disburse, mobilize and articulate funding needs.<\/span><\/p>\n

To date the Convention has been able to count on resources mobilized to support the goals and targets of the GBF through a variety of bilateral arrangements, private, and philanthropic sources, as well as dedicated funds such as:<\/span><\/p>\n