The biodiversity review that matters most will happen in the credit committee

Detailed summary

The most important question after COP17 is what changes when the next financing decision reaches a credit committee.

The UN Biodiversity Conference in Yerevan, Armenia, held from 19 to 30 October, brought the world its first global review of progress under the Kunming-Montreal Global Biodiversity Framework. Adopted in 2022, the framework sets 23 targets for 2030.

The evidence presented around the review, however, exposed a persistent gap between commitments and implementation: according to the United Nations’ assessment ahead of the talks, fewer than half of the national targets assessed by countries were on track.

Gaps in funding, institutional capacity and monitoring continued to constrain delivery. In her address to COP17, IUCN Director General Grethel Aguilar reinforced the warning that the world was not on course to halt and reverse biodiversity loss by 2030.

Read: Biodiversity emerges as new risk for asset managers after UN summit New biodiversity credits can succeed where carbon offsets failed: UN

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