The two-week UN biodiversity conference COP17 concluded in Yerevan (Armenia) on Saturday. Countries adopted the "Yerevan Path" decision, which is intended to accelerate the implementation of the goals of the Kunming-Montreal Global Biodiversity Framework for 2022.
Participants agreed to cut harmful subsidies faster, increase financing for developing countries and align national budgets with nature protection goals. The world is still lagging behind on almost all of the targets adopted four years ago.
The organizers reported that during the conference, more than 1,8 billion dollars were announced from governments, philanthropists and investors. However, delegates acknowledged that these funds are clearly insufficient to meet the ambitious tasks.
Particular attention was given to reducing harmful subsidies — the goal remains the same: to cut their volume by at least 500 billion dollars a year by 2030. The parties also agreed to review existing financing mechanisms and to define criteria for a permanent mechanism in the future.
"We cannot simply head toward 2030 without adjusting course," noted Catherine Weller, Director of Global Policy at Fauna & Flora. The next conference, COP18, will be held in Quito (Ecuador) in 2028.
Can accelerated action on paper turn into real change on the ground?
