Over the last year, countries from the Global South have come together to launch the Ministerial Alliance for Ambition for Nature Finance (‘the Alliance’). The Alliance is an intergovernmental group of ministers working to publicly champion achieving the nature finance targets that the world agreed to in December 2022 in the Kunming-Montreal Global Biodiversity Framework (“GBF”) and demonstrate actions that countries in the Global South are taking to increase nature finance.
As growing number of ministers of environment from the Global South joining the Alliance or supporting its objectives, and being home to the majority of the most important remaining biodiversity of our planet, we are deeply concerned by the crisis facing the natural world and the unprecedented loss of species and ecosystems.
The whole world came together two years ago to adopt the Kunming-Montreal Global Biodiversity Framework (GBF) and agreed to an ambitious plan to halt and reverse biodiversity loss – headlined by the target to protect or conserve at least 30 percent of the planet by 2030.
The emphasis for action must now be on urgently shifting our economies to respect and protect nature and closing the enormous biodiversity finance gap. Without sufficient funding, we will not be able to make the significant changes that are needed to our economies and societies to implement the goals that were agreed and ensure a future of sustainable livelihoods.
We write to you today, as our partners in this effort, to act urgently to ensure that at least $20 billion per year is delivered from developed to developing countries by 2025 and that at least $30 billion per year is delivered by 2030, as agreed in the GBF. The $20 billion target is the most imminent of all the targets in the agreement. It is critical to drive protection, restoration and sustainable management policies in our countries and catalyze more funding from our treasuries and the private sector.
We are concerned that since the GBF was agreed, we have not seen a significant increase in international nature finance reach our countries.
We call on developed countries to:
1. Urgently deliver new international funding for biodiversity and
2. Establish a working group of ministers of environment and finance to focus on fully achieving the $20 billion and $30 billion target on time.
We also call on developed countries to take urgent measures to ensure that reporting on international biodiversity finance is significantly improved. Currently, the only up-to-date official tally of international biodiversity finance is from before the GBF was signed. We need timeliness and transparency in reporting international biodiversity finance so that we can know how much new finance has been given since COP15, especially the funding for projects that have biodiversity as its principal focus.
COP15 created momentum in our work to safeguard global biodiversity. It is essential that we now build on this trust between nations and maintain a high level of urgency to deliver our goals. We look forward to doing our part in the Global South and hope to work more closely with the Global North to meet all of the GBF’s finance targets and ensure that our ambitious plans for nature succeed.
Endorsed by Ministers of Environment from:
1. Burkina Faso
2. Cambodia
3. Cameroon
4. Côte d’Ivoire
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5. Dominica
6. Ethiopia
7. The Gambia
8. Grenada
9. Guinea
10. Liberia
11. Madagascar
12. Nigeria
13. St. Kitts and Nevis
14. Samoa
15. Sierra Leone
16. Somalia
17. South Sudan
18. Togo
19. Vanuatu
20. Zambia
