Yerevan:Nations convening in Armenia for COP17 have formalized a roadmap, known as the 'Yerevan Pathway,' aimed at accelerating global efforts to achieve biodiversity targets by 2030. The agreement was reached as the UN Biodiversity Conference concluded in Yerevan, the Armenian capital, marking a significant step towards meeting the Kunming-Montreal Global Biodiversity Framework's 23 targets.
According to Emirates News Agency, the Yerevan Pathway emphasizes the need to eliminate subsidies harmful to nature and calls for increased financial, scientific, and technical support, particularly for developing countries. The agreement also advocates for aligning national budgets and economic decisions with the biodiversity framework, alongside stronger monitoring and reporting mechanisms.
During the conference, COP17 President Hambardzum Matevosyan highlighted the successful bridging of differences and the transformation of commitments into actionable decisions. The conference resulted in nearly 50 adopted decisions, addressing issues such as protected areas, wildlife management, and marine biodiversity. The Sevan Guidelines were also agreed upon, establishing operational rules for a new body to enhance the involvement of Indigenous Peoples and local communities in biodiversity policy-making.
Significant financial commitments were made, with nearly $2 billion in new biodiversity funding announced. This includes $560 million from the Global Environment Facility and $500 million through the Species Recovery Alliance, among other contributions. Additional initiatives launched include a new biodiversity bond and investment incubator by the Asian Development Bank.
UNEP Executive Director Inger Andersen praised the spirit of compromise that led to the successful agreements, indicating progress for both people and the planet. The next conference, COP18, is scheduled to take place in Ecuador, with only two years remaining to meet the established targets. Astrid Schomaker, Executive Secretary of the CBD, emphasized that the ultimate test will be the changes implemented by governments upon returning home.
