COP16 : The Paris Financial Centre calls for a clearer framework and stays committed to biodiversity

One week before the COP16 Biodiversity negotiations resume in Rome on February 25, the Paris financial centre reaffirms its commitment to biodiversity and urges the adoption of a more structured international framework.
 
In October, a delegation led by the Institut de la Finance Durable participated in Cali discussions, engaging in multiple round tables. The delegation also had the opportunity to exchange views with representatives from other financial centres and meet with France’s Minister of Ecological Transition, Agnès Pannier-Runacher.
 
COP16 in Cali, which saw historic mobilization of civil society and the private sector, led to several important advancements but the negotiations failed to reach agreement on two key issues: defining a framework for monitoring the implementation of the Global Biodiversity Framework targets adopted at COP15 and establishing a comprehensive strategy for biodiversity financing.
 

A Call for a Pragmatic and Effective Framework

Through this paper, stakeholders of the Paris financial community urge the parties to the Convention on Biological Diversity to continue efforts to define a clear and pragmatic international framework for achieving the targets set at COP15 in Montréal in order to accelerate private funding for biodiversity.
The Paris financial centre’s mobilization has already achieved some progress in financing solutions and tools since the Kunming Montréal agreements. Financial players intend to pursue and reinforce these actions in coordination with public authorities.