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May 22, 2024

COP 16: Global Action for Biodiversity

Author

Ana Katherine Rivera Moreno, Data Analyst and Benjamin Bailey, Analyst Intern

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From October 21st to November 1st, 2024, Colombia will be hosting the 16th Conference of the Parties (COP 16) to the Convention on Biological Diversity (CBD) in the city of Cali.

During the previous Biodiversity Conference in 2022, the Kunming–Montreal Global Biodiversity Framework (K-M GBF), more commonly known as the Biodiversity Plan, was adopted. K-M GBF established a roadmap, with 4 goals for 2050 aided by 23 targets for 2030, to halt and reverse biodiversity loss. As a result, COP 16 will rotate around 3 key pillars according to the CBD: (1) translating the Biodiversity Plan into concrete national action, (2) mobilizing and bolstering the means of implementation of the 23 targets set for 2030, and (3) accelerating the progress on access and sharing of benefits coming from utilisation of genetic resources[1]. The latter means COP16 is expected to further the operationalisation of a multilateral mechanism on fair and equitable participation benefits derived from the use of digital sequence information on genetic resources. Genetic resources include any material of plant, animal, microbial or other origin containing functional units of heredity[2].

Colombia is one of the most biodiverse countries in the world, accounting for 10% of global biodiversity[3]. However, since 1978, Latin America is said to have registered on average a 94% decrease in monitored wildlife populations, thereby making it the highest regional decline of monitored populations of mammals, reptiles, birds, fish, and amphibians throughout the globe[4]. Therefore, this constitutes an unprecedented opportunity for Colombia to host the biodiversity COP, mixing both the desire to strive for biodiversity preservation and restoration as well as the urgency and relevance of the matter for the region.

Beyond the three pillars that have been set to guide the conference, Colombia’s Deputy Minister of Environment and Sustainable Development, Sandra Vilardy, has defined four themes to prioritize: (1) financing for climate and biodiversity issues, including restoration; (2) fair and equitable sharing of biodiversity benefits; (3) new technological developments regarding gene usage and the discussion of who owns this information; (4) highlighting the role of indigenous communities as biodiversity protectors[5].

The themes and pillars that are set for COP16 are of great interest to 2DII notably regarding means to increase financing for biodiversity, with a specific focus on private finance. We look forward to take part in discussions surrounding this theme.

 


[1] ‘On the Road to COP 16 in Cali: Three Priority Areas for Action’ (2024), CBD

[2] Article 2, CBD

[3] ‘Colombia – Country Profile’, CBD

[4] Living Planet Report Confirms Accelerated Trend in Biodiversity Loss in Wildlife Populations’ (2022), WWF

[5] Universidad de los Andes (2024)

Author

Ana Katherine Rivera Moreno, Data Analyst and Benjamin Bailey, Analyst Intern

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2DII today announced it is transferring stewardship of the Paris Agreement Capital Transition Assessment (PACTA) to RMI, formerly Rocky Mountain Institute. PACTA measures financial portfolios' alignment with various climate scenarios, including those consistent with the Paris Agreement. Under RMI’s stewardship, PACTA will remain a free, independent, open-source methodology and tool, and will continue to provide the financial and supervisory community with forward-looking, science-based scenario analysis to help users make climate-aligned financing decisions. RMI will invest in scaling up PACTA’s usability and applicability in day-to-day investment decisions as well as reporting requirements.

Access the full press release here: https://2degrees-investing.org/2-investing-initiative-transfers-stewardship-of-pacta-to-rmi/In the coming weeks, we will update this website with additional information. For now, please note that all contact information remains unchanged. 

2°Investing Initiative is delighted to announce its strategic alliance with The Sustainable Finance Observatory!