COP17 ends with the Yerevan Pathway, but nature finance is still short

The UN Biodiversity Conference (COP17) in Yerevan, Armenia, ended on Saturday 31 October after talks ran through the night. The conference carried out the first global review of the Kunming-Montreal Global Biodiversity Framework, and the news going in was stark: nearly 90% of counties set national biodiversity targets under the agreement, but fewer than half of those targets on track for 2030 in line with the 30x30 goal.

The Yerevan Pathway

The main outcome of COP17 was a decision called the Yerevan Pathway. It calls on countries to revise their biodiversity plans, subject to available funding, with a focus on the gap in protection of marine, coastal and inland water ecosystems. Governments also agreed to put focus on the existing target of reducing harmful incentives such as subsidies that are detrimental to biodiversity, as well as increasing finance for developing countries and aligning national spending with biodiversity goals.

Finance was the sticking point

After a two-week stalemate, countries agreed to invite wealthy emerging economies, such as China, to become donors. The final text recognises that contributions from more parties would improve funding but doesn’t set criteria to widen the donor list. Delegates also agreed to review existing funding arrangements and set criteria for a future permanent financing mechanism. The EU described the progress on broadening the donor base as “timid”. Organisers said more than $1.8 billion in finance from governments, philanthropies and investors was announced during the conference.

Other decisions

COP17 also adopted decisions on protected areas, forest biodiversity, sustainable wildlife management, invasive alien species, synthetic biology and risk assessment of living modified organisms, and agreed on a text on biodiversity and climate change with new voluntary guidance for scaling up nature-based solutions.

Response

WWF said the review sent a “strong signal” but needs to be backed up with finance. Some campaigners argued that voluntary measures aren’t enough. Astrid Schomaker, executive secretary of the Convention on Biological Diversity, said the next four years must bring acceleration and alignment with what was agreed in the framework. She stressed that the test is what governments change when they go home, not what they agreed in Yerevan. At a turning point for our planet, this highlights the importance of shifting from ambition to implementation.

What’s next

Attention now turns to COP31 in Antalya, which begins on 9 November. Nature and climate share the same finance challenge, and the ocean is a named priority there.