Key facts
- Nations agreed on key parts of a new global action plan for nature.
- The deal aims to halt and reverse the decline of nature.
- Countries acknowledged they are falling behind on previous biodiversity targets.
- Over $1 billion was pledged towards nature recovery efforts, with half from philanthropists.
- Little progress was made on securing funding from companies profiting from genetic material.
- Some countries reportedly obstructed the approval of scientific reports on nature's state.
Delegates from nearly 200 countries reached a key agreement on a new global action plan for nature in Yerevan, Armenia, after protracted negotiations. The deal aims to address the urgent issue of biodiversity loss, with scientists warning of a sixth mass extinction event.
While the agreement signifies a course correction from previous targets, countries acknowledged falling behind on commitments made in the 2022 Global Biodiversity Framework. The framework included targets such as protecting 30% of the world's land and seas by 2030.
A significant barrier to accelerating conservation efforts is funding. Although countries previously agreed to mobilize $30 billion annually by 2030, and a further $170 billion from private sources, current pledges are insufficient. At the recent meeting, over $1 billion was pledged, with half from philanthropists. Little progress was made on establishing a robust funding mechanism from companies that profit from genetic resources.
Disagreements also arose over the approval of scientific reports, with some countries reportedly hindering the process. This mirrors challenges faced by the IPCC in passing its own scientific reports and securing funding.