The recently concluded COP16.2 biodiversity conference, held in Rome, Italy, marked a significant step forward in the global effort to address biodiversity loss. From Feb. 25 to Feb. 27, 2025, representatives from 196 parties to the Convention on Biological Diversity gathered at the Food and Agriculture Organization headquarters to finalize critical decisions on biodiversity financing, monitoring, and implementation of the Kunming-Montreal Global Biodiversity Framework.

One of the most notable outcomes of COP16.2 was the agreement on a strategy to mobilize at least 200 billion USD annually by 2030 for biodiversity initiatives.This funding will come from a mix of public, private, and philanthropic sources, as well as multilateral development banks. The agreement also includes a commitment to reduce harmful incentives by 500 billion USD per year by 2030, a move aimed at redirecting resources toward sustainable practices.

A groundbreaking decision at COP16.2 was the establishment of a “permanent arrangement” for biodiversity finance, ensuring long-term financial support for developing countries beyond 2030. This decision, described as “future-proofing” biodiversity finance, addresses decades of debate over how to sustainably fund global conservation efforts. While the specifics of the financial mechanism will be developed in future COPs, the agreement represents a historic milestone in global biodiversity governance.

The conference also made progress on the Planning, Monitoring, Reporting, and Review Mechanism, a critical tool for tracking progress toward the KMGBF’s 23 targets. Parties agreed on a robust monitoring framework to ensure transparency and accountability in implementing biodiversity goals. This framework will play a key role in assessing progress at COP17 in 2026.

Despite these achievements, challenges remain. A recent investigation revealed that more than half of the nations that submitted biodiversity plans failed to commit to the KMGBF’s flagship target of protecting 30% of land and seas by 2030. Additionally, geopolitical tensions and cuts to foreign aid budgets, particularly from the United States, have raised concerns about the feasibility of meeting the $200 billion annual mobilization target.

The leadership of COP16.2, chaired by President Susana Muhamad, was widely praised for steering the negotiations to a successful conclusion. Her efforts were instrumental in bridging divides between the Global North and South, particularly on contentious issues like the creation of a new biodiversity fund.

As the world looks ahead to COP17, the decisions made in Rome provide a strong foundation for advancing global biodiversity goals. However, the real test will be in translating these commitments into tangible actions that halt and reverse biodiversity loss by 2030. The stakes are high, but the progress at COP16.2 offers hope that multilateral cooperation can still deliver meaningful change in the face of environmental crises.

Muhammad Abdullah is a Deputy News Editor. Email them at feedback@thegazelle.org.