{"id":66023,"date":"2024-11-07T12:21:01","date_gmt":"2024-11-07T10:21:01","guid":{"rendered":"https:\/\/www.sweco.fi\/?post_type=blog&p=66023"},"modified":"2025-10-06T12:49:40","modified_gmt":"2025-10-06T09:49:40","slug":"one-step-forward-two-steps-back-in-the-worlds-largest-nature-summit-cop16","status":"publish","type":"blog","link":"https:\/\/www.sweco.fi\/en\/blog\/one-step-forward-two-steps-back-in-the-worlds-largest-nature-summit-cop16\/","title":{"rendered":"One step forward, two steps back in the world\u2019s largest nature summit COP16?"},"content":{"rendered":"
\n\t
\n\t
\n\t\t
\n\t\t\t

COP16 meeting left many important issues open to protect our planet’s biodiversity but managed to fortify indigenous peoples\u2019 role and fair sharing of benefits from using genetic resources. What do the negotiation results mean for Finnish society and companies?<\/strong><\/p>\n

The Sixteenth meeting of the Conference of the Parties (COP16) to the Convention on Biological Diversity (CBD) took place in Cali, Colombia, from 21st<\/sup> October to 1st<\/sup> November 2024. Two years after Kunming-Montreal (COP15) and the agreement on the historic Global Biodiversity Framework (GBF) with the ambitious pathway to reach the global vision of a world living in harmony with nature by 2050, the COP16 left many with a disappointed feeling.<\/p>\n

The meeting did not manage to take all the big steps urgently needed to protect our planet’s biodiversity. At the same time, some very important progress was made and especially regarding the rights and participation of indigenous people and local communities in biodiversity conservation. Additionally, the mechanism for fair sharing benefits from using plant and animal genetic information, that had been agreed on during COP15, was further clarified.<\/p>\n

Sharing benefits fairly from genetic information use<\/h2>\n

The COP16 to the Convention on Biological Diversity made significant progress in advancing the operationalisation of the mechanism to fairly share benefits from using digital sequencing information of genetic resources. Genetic diversity, being one of three pillars of biodiversity, underpins the health of ecosystems and the resilience of species.<\/p>\n

In addition to these, maintaining genetic variation within species is essential for agricultural resilience and food security.<\/p>\n

\n
<\/i><\/figure>\n

The decision addresses how industries, such as pharmaceutical, biotechnology, and animal and plant breeding that benefit from using digital genetic information, should share those benefits with developing countries and indigenous and local communities.<\/p><\/blockquote>\n

In practice, benefiting large companies should contribute to the so-called Cali Fund based on a percentage of their revenue or profit. From there it is distributed further to developing countries for biodiversity work as well as to indigenous peoples and local communities for needs they have identified.<\/p>\n

Key aim of the mechanism is to ensure that indigenous and local communities also benefit from the utilization of genetic materials. In addition to being fair, it aims at inducing a positive cycle, i.e. providing funding for biodiversity work, including genetic diversity, where help is needed most.<\/p>\n

Strengthening indigenous rights and participation<\/h2>\n

Another breakthrough was achieved in ensuring that rights, contributions and traditional knowledge of indigenous peoples and local communities are further embedded in all convention processes. The parties adopted a new Programme of Work that describes tasks aiming at ensuring contribution of indigenous peoples and local communities towards conservation and sustainable use of biodiversity, fair sharing of the biodiversity benefits as well as the implementation of the GBF.<\/p>\n

Establishing a new permanent subsidiary body on indigenous peoples and local communities was one of the key means to ensure engagement and participation in practice.<\/p>\n

Funding mechanisms and other open issues<\/h2>\n

While some progress was made during COP16, many big challenges remain. The implementation of the Global Biodiversity Framework requires political will and financial support, but also governing structures including monitoring of the progress and ensuring accountability. During COP16 all these fundamentals experienced if not a crash, but a small bump at least.<\/p>\n

\n
<\/i><\/figure>\n

Considering the starting point for the meeting \u2013 only 44 countries out of around 200 had provided a national biodiversity strategy and an action plan on how to implement it \u2013 this was not a surprise.<\/p><\/blockquote>\n

The meeting ended without consensus on whether new financial mechanisms are needed and how to mobilize funding for biodiversity work. Also, no clear rules for reporting and monitoring of the progress regarding the national biodiversity strategies and action plans were agreed.<\/p>\n

Key take-aways for Finnish companies<\/h2>\n

Finland was one of the countries that had not submitted a national biodiversity strategy and action plan. Many Finnish companies have not been deterred by this but have ambitiously moved forward with their biodiversity work in the recent years.<\/p>\n

Companies have realised that understanding potential nature-induced business risks or opportunities is needed to ensure business in the short term, and adjusting business strategies and models in the light of the findings is a must for also ensuring success in the long term.<\/p>\n

In addition, being able to tell e.g. in CSRD reporting<\/a> on how biodiversity has been taken into account in company\u2019s business strategy and whether it is aligned with the Kunming-Montreal GBF, helps in claiming the forerunner status in biodiversity at the moment.<\/p>\n

Aligned with the COP16 outcome, engagement of indigenous people and local communities in company\u2019s biodiversity work is one of the key issues to ensure. Also identifying potential benefits from digitalised genetic resources should be included in the biodiversity work in the future.<\/p>\n

By acting, Finnish companies do not just contribute positively to biodiversity<\/a>, but also ensure resilience of their own business operations in a changing operating environment \u2013 and a changing environment.<\/p>\n

Author: Piia Pessala, Executive Director, sustainability consultancy<\/a><\/em><\/p>\n

Source: Biodiversity COP 16: Important Agreement Reached Towards Goal of \u201cMaking Peace with Nature\u201d | Convention on Biological Diversity<\/a><\/p>\n

Read also, what Sweco Group’s advocate, Andreas Gyllenhammar, writes about COP16 results<\/a><\/div>\t\t<\/div>\n\t<\/div>\n<\/div>\n<\/section>\n\n\n
\n
\n
\n
\n

Find out, how Sweco can help in enhancing biodiversity and sustainability!<\/h3> <\/div>\n \n
\n\n \n
\n
\n

Sweco’s biodiversity services<\/a><\/h4>