The progress and prospect of the financial arrangements under the Convention on Biological Diversity

doi:10.17520/biods.2023077

Abstract

Abstract:

Background & Aim: Matters relating to finance are critical to the implementation both for the Convention on Biological Diversity (CBD) and the newly adopted “Kunming-Montreal Global Biodiversity Framework” (GBF). Within the package of decisions adopted at the 15th Conference of the Parties (COP15) of the CBD, the Kunming-Montreal GBF and the decision on Resource Mobilization are those related to finance. The Kunming-Montreal GBF sets up clear quantitative financial goals “closing the biodiversity finance gap of \$700 billion per year” and “mobilizing at least \$200 billion per year by 2030 from all sources”. The decision on Resource Mobilization contains important institutional arrangements, namely the historic establishment of the Kunming-Montreal GBF Fund, the adoption of the new strategy for resource mobilization and the establishment of an advisory committee on resource mobilization, etc.

Review Results: How quickly these goal-related commitments and institutional arrangements can be achieved is of paramount importance. This article, based on a systematic review of the finance-related decisions at COP15 and a comprehensive analysis of the key reports on biodiversity finance, provides an overview of the current status of biodiversity finance and an analysis of the new financial needs for the implementation of the CBD and the Kunming-Montreal GBF, with a view towards future arrangements.

Recommendations: This article suggests that China should continue to strive for bilateral/multilateral grants, provide continuous and stable financial support for biodiversity, broaden the mechanism for realizing the value of ecological products, establish the mechanisms for access to and benefit sharing for genetic resources and DSI (Digital Sequence Information), and improve the system of compensation and damage compensation for biodiversity, so as to facilitate the implementation of the Kunming-Montreal GBF.

Key words: biodiversity, Kunming-Montreal Global Biodiversity Framework, GBF Fund, resource mobilization, financial mechanism

Yixin Li, Yuanyuan Li, Yangxinyi Zhang, Wenhui Liu. The progress and prospect of the financial arrangements under the Convention on Biological Diversity[J]. Biodiv Sci, 2023, 31(4): 23077.

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URL: https://www.biodiversity-science.net/EN/10.17520/biods.2023077

https://www.biodiversity-science.net/EN/Y2023/V31/I4/23077

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References 8

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