The COP 16 on biodiversity, held in Cali, was suspended on November 2 after negotiations failed to reach a formal conclusion. Many delegates had already departed, preventing the necessary two-thirds quorum from being achieved. Despite this, KfW believes significant progress was made during the summit. Biodiversity protection is a crucial sector for KfW Entwicklungsbank and a key objective for KfW Bankengruppe as a whole. The organization was well-represented at the event.
This COP marked the first meeting following the adoption of the Global Biodiversity Framework (GBF) in Montreal in 2022, where 23 specific goals were established, including protecting 30% of Earth's surface by 2030. The Cali negotiations aimed to further develop these goals through resolutions on monitoring frameworks, indigenous peoples' roles, and international biodiversity financing mechanisms.
Discussions stalled over monitoring and financing mechanisms, particularly regarding who would provide USD 20 billion annually. Countries from the Global South demand their own fund due to perceived domination by Northern countries over existing financial instruments.
Some resolutions were successfully passed. A new fund requires companies using genetic information from plants and animals to contribute voluntarily. This 'Cali DSI Fund' aims to equalize benefits for source countries.
Indigenous peoples and local communities will now have representation in a separate GBF committee. On behalf of BMZ, KfW is contributing EUR 10 million to the Legacy Landscapes Fund (LLF), which introduced its own financing window for direct promotion of these communities.
KfW also launched initiatives like WALD (Global Alliance for Landscape-based Decarbonisation) and presented an 'Integrated Habitat Conservation Programme' (ITHCP) focused on tiger conservation in Asia. The latter has reportedly increased tiger populations by 40% over ten years.
The COP highlighted biodiversity's economic importance; more than half of global economic output depends on nature. Economic activities significantly contribute to biodiversity loss, posing risks to economies worldwide. Companies are urged to mitigate negative impacts while promoting biodiversity protection and restoration.
Despite its suspension, COP 16 had a positive impact overall with around 23,000 accredited participants attending this 'people's COP.' Colombia served as an ideal host given its rich biodiversity.
KfW remains committed to seeking solutions with partners. Germany continues as the largest bilateral financier for biodiversity conservation. With Board Member Christiane Laibach present at the summit, KfW emphasized that biodiversity and climate are vital issues for both international economies and banking sectors.