COP16 Triumphs with 197€ Billion Annual Pledge for Global Conservation and Biodiversity
A Glittering-throated emerald hummingbird (Chionomesa fimbriata) perches on a leaf: A stunning specimen of the type of native biodiversity found in one of the 15 "Carbono Vivo" project areas in Colombia. Regenerative agriculture projects like "Carbono Vivo" support sustainable practices, which have been known to bring returning, native wildlife and plant species to carefully monitored carbon project areas.
A reconvened COP16 concludes with a landmark agreement to establish a global biodiversity fund. This new fund will channel significant resources to the most vulnerable regions, committing approximately €197 billion annually to safeguard nature and biodiversity. This breakthrough gives rise to hopes that progress is possible in other areas of nature conservancy and climate-positive initiatives as reflected by First Climate’s Heike Natzet.
On February 27th, delegates from around 150 nations successfully brokered an international biodiversity financing deal that includes a robust financing strategy for biodiversity conservation. Known as the Cali Fund, this agreement represents a significant turning point from last year’s failed talks in Cali, Colombia, which left nations scrambling to find solutions for climate change and the protection of natural resources, particularly in the global south. Climate experts and project developers alike are inspired by this bold pivot and the strong show of political will in a time when the global climate agenda appeared stalled. Here’s what our climate project portfolio expert, Heike Natzet has to say on the topic:
This funding decision is a game-changer and demonstrates that breakthroughs in nature conservation are still possible, even in the face of policy setbacks that seem to stall climate action. The time to roll up our sleeves is now—impactful action is needed more than ever!
The Cali Fund promises to become a crucial revenue source for biodiversity conservation, And its creation marks a pivotal shift in global climate-focused initiatives – collectively prioritizing the needs of vulnerable nations, empowering local communities, and encouraging innovative, sustainable solutions with the intention of protecting natural resources and working to ensure its resilience and longevity.
As we continue to grapple with the climate crisis, the COP16 fund could serve as a lifeline for biodiversity preservation and restoration, enabling nations, communities, and the private sector to come together and take meaningful steps towards a more sustainable and resilient future. Tackling the climate crisis is a shared global responsibility. At First Climate, we hope this decision will inspire increased engagement from our private sector partners and foster much-needed global solidarity in defending biodiversity. This momentous achievement signals that collective, impactful change remains possible –provided we act decisively, together, and now.
Heike Natzet, Head of Portfolio Management at First Climate
