COP17: Developed nations fail to meet UN biodiversity finance targets

A new report released ahead of the COP17 biodiversity summit in Yerevan, Armenia, indicates that developed nations are failing to meet United Nations targets for nature finance. The global stocktaking report reveals a significant failure to close the $200 billion biodiversity finance gap required to meet the Kunming-Montreal Global Biodiversity Framework (GBF) goals.

Financial flows remain heavily imbalanced. Data from 2023 shows that funding for nature-negative activities exceeded investments in nature-based solutions by approximately 30 to 1. While the finance sector has made progress in creating frameworks and standards, implementation remains a challenge. Currently, financing for nature-based solutions relies overwhelmingly on public funding, with private finance accounting for only about 10% of total investment.

Specific funding mechanisms are also underperforming. A special framework fund for biodiversity has received less than $140 million from developed countries over the last two years, while the Cali Fund has received only $6,000 from private companies. The lack of mandatory corporate reporting and uneven government regulations continue to hinder the ability to track and redirect private capital toward nature-positive activities.