Decision 15 / 7 : Resource Mobilization

The mobilization of adequate financial resources is key for the successful implementation of the Kunming-Montreal Global Biodiversity Framework and is reflected in Goal D, Target 19 and further fleshed out in the complementary decision on resource mobilization. Recognizing the urgency to increase international biodiversity finance, the COP decided to establish the Kunming-Montreal Global Biodiversity Framework Fund under the Global Environment Facility (GEF). Parties requested the GEF to take the requisite steps with a view to the establishment of the fund in 2023. The COP also adopted building blocks for the first phase of a strategy for resource mobilization, seeking to increase both international and domestic biodiversity finance from all sources. Parties decided to review and strengthen the strategy at its next meeting, including by exploring proposals for a global instrument on biodiversity finance based on a gap analysis of the international biodiversity funding landscape. The COP encouraged Parties to develop national finance plans or similar instruments in order to give effect to resource mobilization at the domestic level. Parties established an advisory committee on resource mobilization to advance the requisite analytical and conceptual work during the intersessional period in the lead up to COP 16.