COP15, also known as the UN Biodiversity conference in Montreal, Canada, ended with the EU joining 195 countries in the Kunming-Montreal Global Biodiversity Framework. This framework includes global goals and targets aimed at protecting and restoring nature for current and future generations, ensuring its sustainable use, and encouraging investments in a green global economy.
Together with the Paris Agreement on climate change, the Kunming-Montreal framework paves the way towards a climate-neutral, nature-positive, and resilient world by 2050.
Some key targets of the Kunming-Montreal agreement include:
- Restoring 30% of degraded ecosystems globally by 2030
- Conserving and managing 30% of areas on land and sea by 2030
- Reducing the extinction risk and rate of all species by at least 50% by 2050
- Reducing the risk from pesticides by 50% by 2030
- Reducing nutrients lost to the environment by 50% by 2030
- Reducing pollution risks by 2030 to levels that are not harmful to biodiversity and ecosystem functions
The Kunming-Montreal deal will also significantly increase the mobilisation of finance for biodiversity from all sources, including domestic and international public and private sources, mobilising at least $200bn per year by 2030. It will also create incentives for domestic and international sources, including business investment, and address subsidies harmful to biodiversity by identifying and eliminating at least $500bn per year by 2030.