Countries meeting as parties to the Convention on Biological Diversity (CBD) at COP15 in Montreal reached an ‘historic’ deal aimed at protecting nature’s biodiversity early today. Draft decision documents are available on the CBD website. The Kunming-Montreal Global Biodiversity Framework (the GBF) sets out 23 conservation targets, including a requirement the countries ensure that at least 30 per cent of terrestrial, inland water, coastal and marine areas are “effectively conserved and managed” by 2030 (referred to as the 30×30 goal). The GBF also includes a requirement that countries take legal, administrative or policy measures to encourage and enable businesses (particularly multi-nationals and financial institutions) to: (a) monitor, assess, and disclose risk and impacts on biodiversity; (b) provide information that promotes sustainable consumption patterns; and (c) report on compliance, all in order to “progressively reduce negative impacts on biodiversity, increase positive impacts, reduce biodiversity-related risks to business and financial institutions, and promote actions to ensure sustainable patterns of production.” In addition, the GBF includes: An acknowledgement of the US$700B annual gap in the estimated cost of preserving nature globally as compared to the amount that is currently spent. A target to close the gap by reducing government subsidies that promote nature loss by at least US$500B per year by 2030. A target to substantially and progressively increase the level of financial resources to implement national biodiversity strategies and action plans by mobilizing at least US$200B per year by 2030, including an increase in financing from developed countries to the developing world to aid in conservation efforts from US$10B to at least US$20B annually by 2025 and at least US$30B annually by 2030. Multiple targets making express reference to the rights and role of Indigenous peoples in protecting nature. Countries previously agreed the Strategic Plan for Biodiversity 2011-2022 under the CBD, which…
