Ahead of the UN biodiversity summit (COP17) set to begin on October 19 in Yerevan, Armenia, Astrid Schomaker, the executive secretary of the Convention on Biological Diversity, emphasized the urgent need for global cooperation in addressing biodiversity loss. With nearly 200 nations participating, the summit aims to tackle significant challenges as countries have fallen behind on their commitments to halt nature’s destruction by 2030.
Schomaker acknowledged the complex geopolitical landscape influencing the negotiations, stating, “I don’t want to be naive,” while highlighting the necessity for multilateralism to prove its value in difficult times. The summit comes at a critical juncture, as many global targets established four years ago—such as conserving 30% of land and oceans and reducing pollution—are currently off-track.
Challenges Ahead of COP17
Despite the challenges, Schomaker expressed cautious optimism that nations can find common ground. She noted that the upcoming summit must address the pressing issues of food and water security, which transcend political borders. “Nature is recognised as one of those issues that does not respect political borders,” she remarked, underscoring the interconnectedness of environmental challenges.
As part of the preparations for COP17, Schomaker’s team is finalizing a global scorecard assessing progress toward the 2030 biodiversity goals. The results are described as “mixed,” with improvements being slow and uneven. “I think we can clearly say they’re all still reachable—but only with significant changes being made,” she added.
Funding and Private Sector Engagement
With public finances under strain, a significant focus of COP17 will be on engaging the private sector to help bridge the estimated $700 billion annual funding gap for nature protection. Schomaker pointed out the slow start of the Cali Fund, a UN initiative launched to attract $1 billion annually in corporate contributions, which has so far raised only $6,000. “The beginning has been slower than we had hoped,” she acknowledged.
Schomaker emphasized that the challenge lies not only in finding new funding sources but also in redirecting existing financial flows. Currently, governments allocate approximately $2.6 trillion annually to environmentally harmful subsidies. For every dollar invested in nature protection, about $30 is spent on activities that degrade it. “Finance is always a bit the elephant in the room,” she stated, advocating for economic incentives that align with environmental sustainability.
As the world prepares for COP17, the call for cooperation and innovative funding solutions remains critical in the fight against biodiversity loss. The outcomes of this summit could significantly influence global efforts to protect the planet’s natural resources.
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