Nature Pact Falters: Nations Urged to Speed Up Action

Governments are lagging behind their commitments to protect the planet's biodiversity, with the upcoming COP17 summit in Yerevan serving as a critical review of progress. The landmark Paris Agreement for Nature, adopted in 2022, set 23 targets to halt and reverse nature loss by 2030, including protecting 30% of global land and oceans. However, a draft UN review indicates the world is off-track to meet these objectives. Conservationists are calling for a clear course correction, emphasizing the need for concrete actions rather than mere restatement of promises.

Significant financial shortfalls are a major concern, as nations are behind on pledges to raise $200 billion annually for biodiversity by 2030, including $30 billion in international finance for developing countries. Furthermore, progress on reforming nature-harmful subsidies has been minimal, with substantial public spending still directed towards activities that degrade ecosystems. The Cali Fund, a UN initiative to raise corporate funds for conservation, has also seen much slower engagement than anticipated, attracting only $6,000 against its $1 billion annual target.