I4N’s insights from COP16, Cali, Colombia
‘Perhaps the greatest battle is about to begin… It is the great battle for life,’ President Gustavo Petro declared at COP16’s opening in Cali, capturing the urgency surrounding biodiversity conservation. This sixteenth biodiversity COP was the biggest biodiversity COP ever gathering around 23,000 leaders, activists, and businesses, with 40,000 local visitors daily, demonstrating the vast and growing commitment to building a nature-positive future. Over the past week, Dr. Barbara Dubach, Executive Director, and Dr. Philipp Staudacher, Head of Portfolio, had the privilege of attending this critical gathering, where they were engaged with passionate individuals from all sectors working toward a more sustainable and equitable world.
COP16: recognising indigenous contributions and driving change
This year’s COP16 stood out for the unprecedented recognition of Indigenous, Afro-descendant, and farming communities in biodiversity conservation. Their unparalleled ecological knowledge is a cornerstone for crafting long-term, sustainable solutions. During the conference, a new Programme of Work was adopted, ensuring these communities are meaningfully involved in conservation, sustainable use, and the fair distribution of biodiversity benefits.
The operationalisation of the Cali Fund was another major milestone, set to facilitate equitable benefit-sharing from digital sequence information and support Indigenous peoples and developing countries. Moreover, the conference acknowledged the significant role of people of African descent in conservation and their traditional knowledge, which was integrated into global biodiversity strategies.
Embracing innovation and building financial solutions
While progress was made, one of the key challenges COP16 faced was securing the necessary financial resources. Delegates were unable to reach a consensus on raising the $200 billion annually needed to achieve biodiversity targets, including the crucial $20 billion commitment from wealthier nations by 2025. This financing gap underscores the need for innovative financial mechanisms and active private-sector involvement in bridging the gap.
Unlocking the potential of the bioeconomy
Barbara was particularly struck by the massive growth potential of the global bioeconomy. Already valued at $4-5 trillion, it could grow to $30 trillion by 2050. This represents a unique opportunity to embed nature at the core of business and economic strategies. To unlock this potential, we must empower those who are already leading the way, such as the Indigenous communities Barbara met in Cali. ‘Their commitment to sustainable practices offers valuable lessons for us all,’ she states.
Collaboration and co-creation were central to the discussions at COP16. We need to incentivize corporations to shift their business models and incorporate biodiversity into their strategies. A key aspect of this shift is measuring impact—just as organizations track CO2 emissions, it’s equally crucial to measure biodiversity impacts to attract investment and scale initiatives. We must also invest in nature and work with existing accelerators like Silverstrand and Superorganism to ensure these efforts are supported and amplified.
Industry leadership: businesses driving change
Philipp reported how it was truly inspiring to see companies like Volvo taking concrete steps to integrate biodiversity into their business strategies. At a session co-hosted by the Cambridge Institute for Sustainable Leadership, Volvo highlighted how its circular economy model is aligned with biodiversity goals by streamlining production and reducing its environmental impact. The company even proposed the concept of a ‘biodiversity currency’ to help measure ecological impact, which could become a powerful tool for corporate responsibility.
Other major players also made significant strides. Kering, Holcim, and GSK introduced their first Science-Based Targets for Nature, backed by EBP Schweiz and Deloitte. Ørsted showcased new equipment for quieter offshore wind turbine construction to reduce underwater noise and its impact on marine ecosystems. Meanwhile, Bayer demonstrated its commitment to conservation with the LEAF Coalition, focusing on high-integrity carbon credits for biodiversity.
Connecting the COPs: integrating biodiversity, climate, and desertification solutions
One of the strongest themes emerging from COP16 was the interconnectedness of biodiversity, climate change, and desertification. As COP29 on climate runs in Baku, the lessons from COP16 remind us that solutions must be integrated. We cannot treat these issues in isolation—they are deeply linked, and solutions must address all dimensions to be truly effective.
