COP16 bis on Biodiversity kicks off in Rome: the key objectives of the negotiations

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The COP16 bis, which is taking place at the FAO headquarters in Rome, represents an important opportunity to resume negotiations that were interrupted last November during the summit in Cali, Colombia. This meeting, although reduced in terms of participants compared to the main conference, will see over 150 countries working together until 27 February to close the outstanding texts. Despite the reduced presence of high-level political figures, the goal remains crucial: to boost financing mechanisms for biodiversity and improve monitoring of national biodiversity plans (NBSAPs), and of the Global Biodiversity Framework (GBF), the global framework for action on biodiversity.

One of the crucial topics of the COP16 bis negotiations is financing for biodiversity. How to raise resources to reach the target of USD 200 billion per year by 2030 will be discussed, with the contribution expected to rise to US$30 billion by the end of 2025. Europe has already made available EUR 7 billion for the period 2021-2027, with a focus on initiatives such as the EUR 1.4 billion NaturAfrica. However, other industrialised countries and emerging economies are expected to contribute additional resources, both from national funds and private sources, through financial instruments such as green bonds and guarantees.

Funding for biodiversity is an issue that is dividing the delegates, particularly with regard to the management of economic resources. During the negotiations, it will be discussed whether to expand or establish new biodiversity funds. Currently, two main funds already exist: the Global Biodiversity Fund (GBFF) and the Kunming Biodiversity Fund. However, some countries, such as the Democratic Republic of Congo and Brazil, are calling for the creation of a new structure to better manage these resources, perhaps based in Latin America. The ideal solution for Europe, on the other hand, would be to use the GEF (Global Environmental Fund), an organisation that is already operational and has proven to be able to disburse funds quickly.

Another focal point of the negotiations is the activation of the Cali Fund, a fund created to support the conservation of biodiversity through the commercial use of digital genetic sequencing (DSI). This fund, approved at COP16 in Colombia, will be financed mainly by companies in the pharmaceutical, nutraceutical, cosmetics and biotechnology sectors, which will have to contribute a percentage of their profits. The fund is mainly intended for developing countries, indigenous peoples and local communities. In particular, 50% of the resources will be dedicated to indigenous peoples. Despite the launch of the fund, no significant contributions from companies in the sector have yet been announced, but the mechanism is ready to go into operation.

During the COP16 bis, improved monitoring mechanisms for the National Biodiversity Strategies and Action Plans (NBSAPs), the plans that each country must implement to protect its biodiversity, will also be discussed. These plans are essential for monitoring progress towards the goals set by the Global Biodiversity Framework (GBF). The discussion will focus on strengthening monitoring mechanisms, which are essential to ensure that commitments made are translated into concrete and measurable action. Delegates will seek to establish an effective reporting system to track and assess progress at the national level.

The COP16 bis is part of a broader process that will culminate in the COP30 to be held in Brazil in November 2025. This meeting will be decisive in consolidating international commitments and defining a shared vision for the protection of global biodiversity. The international community will have to decide how to further strengthen cooperation to achieve its goals, particularly those related to financing and monitoring. Although the COP16 bis is not the main negotiating event, it represents a crucial step to ensure that the multilateralist process continues and that concrete results are achieved for the protection of biodiversity.

This article has been realised within the project "Biodiversity services EU expansion" (CUP: E43D22000480009) in the framework of the Lombardy Region's call for tenders "PR FESR 2021-2027 - LINEA INTERNAZIONALIZZAZIONE 21-27", aimed at supporting the internationalisation of Italian companies. 3Bee is the naturetech company that develops innovative technologies for monitoring, protecting and regenerating biodiversity, supporting companies in defining customised climate strategies based on the analysis of their impacts and dependencies on nature. With an established portfolio in Italy, Germany and France and prominent partnerships, 3Bee continues its expansion into international markets to create real impact through technology.