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Article by future world news

On 21 October one of the most biodiverse countries in the world – Colombia – will take the reins on hosting the next Convention for Biological Diversity, COP16. It follows on from COP15 back in 2022, which saw nearly 200 parties sign a historic deal for nature, setting out a destination for protecting and restoring biodiversity. The deal is made up of 4 goals for 2050, and 24 interim targets for 2030. The targets span everything from land rights and increasing protected areas,  to cutting pollutants in soils, switching to nature friendly farming and stumping up $200billion in new cash. 

This year, the focus will be on the pathway to deliver the goals. Countries must come forward with action plans and money to start getting us on track. COP16 will be the moment the world will assess whether politicians are catching up to what science has been screaming at them; nature is not just an environmental issue, but one that underpins global financial security, future stability, food security, and our climate targets. 

Why it matters 

Nature and biodiversity are essential for the food we eat, the medicines we rely upon, the storms it buffers us from, and the climate emissions it can reduce. But they are degrading at a staggering rate, with over 50% of natural ecosystems in decline. The services nature provides are valued at more than USD 150 trillion a year. That’s at least 1.5 times the global GDP. If we don’t take action now, countries around the world will pay the price. For example, Deforestation in Brazil and Bolivia is causing droughts elsewhere as tropical forests diminish and rainfall patterns falter. This drought has caused a national energy crisis in Colombia, where 70% of energy is generated by hydropower. 

COP16 is a chance for politicians to show they are hearing the science that has been screaming at them – nature is not just an environmental issue, but one that underpins global financial security, future stability, and social health and prosperity. How can they prove it? 

Action plans: quality vs quantity 

Before COP16, countries pledged to submit National Biodiversity Strategies and Action Plans (NBSAPs). These plans lay out the policies and money each country will put in place to deliver on the goals. With just weeks to go before the COP, only 10% of countries had delivered. For some poorer countries, the resources to create and implement a plan is a barrier. They need the finances promised by richer countries. More plans will likely come as we get closer to the COP and the quality of plans from the world’s richest countries will be the thing to keep an eye on. 

Money, money, money 

As part of the finance targets, rich countries committed to stumping up $20billion in new money by 2025. Although there is still time for this to be realised, trust between the global south and the global north will in part hinge on how seriously this goal is taken at COP16. Studies suggest we’re a way off yet, but ministers and leaders are set to give speeches on the 29 – 30 October which could include announcements of new money. 

Sharing benefits from natures genes 

Nature’s genes underpin many of the products we use, be it skin creams or pain pills. Yet companies don’t currently have to pay for that data. At the last COP, a breakthrough was made when parties agreed to change that. This year negotiations will turn to the who, how and where the money goes. It’s already set to be tense with the EU, Japan, and Switzerland dragging their heels. But sharing benefits from digital sequencing information sets us on a path to thinking more innovatively about how we push businesses to pay for nature. It’s a crucial piece of the COP16 puzzle if parties are to reach the wider $200billion nature finance target by 2030. It’s a small price to pay for sectors like the pharmaceutical industry, which made profits in excess of £150 billion in 2023. 

Respect and inclusion of Indigenous Peoples and local communities 

Within the goals, countries signed up to respecting and preserving the traditional knowledge of Indigenous Peoples. Parties must find ways to promote the use of indigenous practices for protecting biodiversity, and ensure that money is being given directly to those on the ground. This year, a permanent Subsidiary Body is likely to be set up. The role of this body will be to hold countries’ feet to the fire on what they promised. It would review progress and provide advice to the Convention on how to keep rights at the center of action to meet the biodiversity goals. 

What else? 

Colombia has been making some noise about the need to end fossil fuels in order to protect biodiverse spaces. As well as this, President Petro is seeking a debt-for-nature swap with Germany, which could see some attention turning to the role of swaps in reaching finance targets. The UK and France will be pushing biodiversity credits as a financial solution on finance day, but many NGOs and EU negotiators have reservations about the role they should be playing. 

What happens at the biodiversity COP really matters. As the hosts of upcoming biodiversity COP16 and climate COP30, Colombia and Brazil will need to work together to tell leaders in the global north that the time for delay is over. Failure in Cali isn’t just bad news for nature – it’s bad news for the climate too.

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