Can World Leaders Unite at COP16 to Stop Species Extinction?

The U.N. biodiversity conference in Colombia seeks solutions to halt the alarming decline in global biodiversity.

• Over 175 countries meet in Colombia for the largest U.N. biodiversity conference in history.
• Countries are expected to submit plans to meet biodiversity targets set in the 2022 Montreal agreement.
• Funding and implementation challenges remain critical barriers to success, with a biodiversity finance gap of $700 billion annually.

What Has Happened

Delegates from more than 175 countries have gathered in Cali, Colombia, for the 16th Conference of the Parties (COP16) to the Convention on Biological Diversity. This two-week event marks the largest U.N. biodiversity conference in history. The primary focus of the talks is to find solutions to the global biodiversity crisis, as scientists warn that over one million species are at risk of extinction. The gathering follows a landmark agreement reached in Montreal two years ago, where nations committed to conserving 30% of the planet’s land and oceans by 2030—known as the 30×30 pledge.

Why This Is Important

Biodiversity is declining faster than at any other time in human history, with devastating impacts on ecosystems and human livelihoods. The destruction of habitats, overfishing, and climate change have driven this crisis, affecting forests, oceans, rivers, food and the species that depend on them. Biodiversity underpins human survival by providing clean air, water, food, and climate regulation. Scientists warn that failing to address this crisis could lead to widespread ecological collapse and threaten long-term human well-being. The COP16 discussions will play a key role in determining the planet’s ecological future.

The Global Market for Biodiversity Protection

The biodiversity finance gap stands at $700 billion annually, meaning there is a shortfall in funds necessary to halt biodiversity loss by 2030. Countries have agreed to phase out $500 billion in harmful subsidies for activities like fossil fuel extraction and unsustainable agriculture. The biodiversity market, while smaller than the carbon market, is growing, with conservation investments expected to rise significantly. Funds are increasingly being directed toward nature-based solutions and preserving areas of high biodiversity and resilient climate for agriculture and food. Governments and private sectors are exploring mechanisms to mobilize the necessary $200 billion per year to protect global ecosystems.

More Detail: Nations Struggle with Biodiversity Action Plans

As COP16 gets underway, countries are expected to submit their plans to meet the 23 biodiversity targets agreed upon in Montreal. However, conservation advocates have raised alarms about the lack of comprehensive action plans, with only a small percentage of nations having submitted strategies ahead of the conference. According to conservation experts, countries are struggling with challenges such as limited funding, policy roadblocks, and conflicts over land use. “There is a significant gap between what was promised and what is being delivered,” said a prominent conservation leader. Despite these obstacles, global cooperation is seen as essential to prevent further biodiversity loss.

Financing and Indigenous Participation Are Key

One of the most contentious topics at COP16 is how to finance biodiversity protection, particularly in developing countries that are rich in biodiversity but lack the resources for conservation. Wealthier nations have committed to mobilizing $200 billion annually, but the need is far greater. Additionally, many countries are pushing for mechanisms to allow Indigenous communities—who manage a significant portion of the world’s biodiversity—to access funding directly, bypassing national governments. The theme of the conference, “Peace With Nature,” emphasizes the need for humans to reshape their relationship with the natural world. As the conference unfolds, the global community must act swiftly to preserve ecosystems and prevent irreversible damage to biodiversity.