Agreement was formalised through the Yerevan Pathway as the UN Biodiversity Conference (COP17) closed in the Armenian capital on Saturday.

It sets out priorities for the four years left to deliver the 23 targets of the Kunming-Montreal Global Biodiversity Framework.

Mixed message

“We cannot protect nature while continuing to finance its destruction,” said Astrid Schomaker, Executive Secretary of the Convention on Biological Diversity (CBD).

The pathway calls on countries to tackle subsidies that harm nature and to increase financial, scientific and technical support for developing countries.

It also calls for national budgets and economic decisions to be aligned with the framework, and for stronger monitoring and reporting.

“Over these two weeks we have demonstrated that differences can be bridged, commitments can become decisions and cooperation can deliver,” said COP17 President Hambardzum Matevosyan.

Progress made

Parties adopted nearly 50 decisions, covering areas including protected areas and forests, wildlife management, invasive alien species, marine and coastal biodiversity, and synthetic biology.

After intensive negotiations, they also agreed the Sevan Guidelines.

These set the rules of operation for a new permanent body strengthening the role of Indigenous Peoples and local communities in shaping global biodiversity policy.

Funding boost

Nearly $2 billion in new biodiversity funding was announced. This included $560 million under the Global Environment Facility’s latest replenishment and $500 million through the Species Recovery Alliance.

Another $330 million is going to the Value Nature Fund, which aims to mobilise private capital for nature.

Other initiatives included a new biodiversity bond and investment incubator launched by the Asian Development Bank, and new indicators to improve biodiversity monitoring and accountability.

Spirit of compromise

“In Yerevan, we saw environmental multilateralism prevail once again,” said Inger Andersen, Executive Director of the UN Environment Programme (UNEP).

“Countries came together, found the spirit of compromise and allowed us to agree important decisions that will support real progress for people and for planet.”

The next conference, COP18, will be held in Ecuador, with two years remaining to achieve the targets.

“Ultimately, the test is not what governments agreed in Yerevan, but what they change when they return home,” said Ms. Schomaker.