Kunming-Montreal Global Biodiversity Framework

Protecting Nature by Reforming Environmentally Harmful Subsidies: An Update

This report updates our 2022 analysis on environmentally harmful subsidies (EHS). The Kunming-Montreal Global Biodiversity Framework (GBF) was adopted in December 2022 to protect and restore nature. The GBF included Target 18, the first quantitative EHS reduction goal, which commits parties to reduce EHS by $500 billion annually by 2030.  The Biodiversity Beyond National Jurisdiction (BBNJ) Agreement, or the “High Seas Treaty”, was passed in 2023 and now has 92 signatories (though far fewer ratifications).

The world has a new plan to save nature. Here’s how it works — and how it could fail.

...Much of the air at COP15 was sucked up by discussions on closing that financial gap. They centered around three tense issues:

1) How much money will the world commit, in total, to biodiversity conservation each year?

2) How much of that money will wealthy nations give to developing countries?

3) Who will manage and distribute the money?

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