COP16 from Cali to Rome: biodiversity financing & global updates
Léa Weimann, LL.M
International Environment and Climate Change Law | University of Cambridge PhD Researcher in Law | Executive Director Cambridge Pro Bono Project | Co-lead Youth for Ecocide Law
The 16th Conference of the Parties (COP16) to the Convention on Biological Diversity (CBD) is reconvening in Rome this week, following a previous meeting in Cali, Colombia last year that left critical financial decisions unresolved. At the forefront of current discussions is the creation of the "Cali Fund," a mechanism designed to channel resources into global biodiversity conservation efforts.
While the Cali Fund aims to mobilise significant financial support, it joins a plethora of existing environmental funds, such as the Green Climate Fund (GCF), the Global Environment Facility (GEF), the Adaptation Fund, and the Loss and Damage Fund, to name but a few. The proliferation of these funds raises questions about the efficiency and effectiveness of dispersing financial resources through multiple channels. Is the creation of yet another fund the optimal solution to address the pressing needs of climate and biodiversity initiatives?
The decision to continue negotiations in Rome stems from the need to finalise key aspects of the Global Biodiversity Framework (GBF). As noted by the United Nations Environment Programme (UNEP), the resumed session focuses on "financing, resource mobilisation, and planning, monitoring and reporting requirements under the GBF". These practical details are essential for translating global commitments into actionable strategies. There is also a push to attract funding from companies, especially those that use genetic resources and materials.
National targets & emerging trends
While the COP16 negotiations focus primarily on finance and implementation, parallel discussions have highlighted broader legal and policy trends shaping global environmental governance.
One major concern is the slow progress on national biodiversity targets. As of November 2024, only 44 countries had updated their National Biodiversity Strategies and Action Plans (NBSAPs) to align with the Global Biodiversity Framework (GBF). This procedural delay reflects another worrying trend - the lack of updated Nationally Determined Contributions (NDCs) for COP30. With the next major climate summit in Brazil on the horizon, the failure of many countries to submit new climate targets raises doubts about their commitment to international climate and biodiversity obligations.
At the same time, the Rights of Nature movement continues to gain traction. Proposals at COP16 include the recognition of key ecosystems such as the Amazon and Antarctica as legal entities, in line with the increasing legal recognition of natural entities worldwide. One of the latest developments comes from New Zealand, which recently granted legal personality to Taranaki Mounga, the country's second highest mountain and one of the most symmetrical volcanoes in the world. This follows previous legal personhood designations for the Whanganui River and Te Urewera Forest, and reinforces a growing international trend towards recognising ecosystems as rights-bearing entities and with it supporting the rights and recognition of Indigenous Peoples. With Rights of Nature explicitly referenced in the Global Biodiversity Framework, its role in international biodiversity governance is becoming harder to ignore.
Another key focus at COP16 is the rights and role of indigenous peoples in biodiversity governance. Indigenous-led conservation is widely recognised as one of the most effective ways to protect biodiversity. Discussions in Cali have highlighted the need for stronger legal and financial mechanisms in support of Indigenous Peoples' land management, particularly in the implementation of the 30x30 target (protection of 30% of the world's lands and oceans by 2030). However, concerns remain about how these commitments will be translated into action, as Indigenous communities often face challenges in securing land rights, funding and legal recognition. Ensuring that indigenous systems of governance are respected and adequately funded will be critical to achieving the goals of the Global Biodiversity Framework.
What's next for COP16?
The ongoing COP16 in Rome, scheduled between 25 and 27 February 2025, will determine the final outcome of negotiations on finance and implementation. While the Cali Fund and announced funding from the private sector signal an attempt to fill financial gaps, its impact remains uncertain without clarity on its financial commitments or governance. As the discussions unfold, it remains to be seen whether the final decisions will result in meaningful mechanisms for biodiversity finance, governance and implementation - or whether they will simply add another layer to an already fragmented landscape.
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