Decision COP 15/15

The Conference of the Parties,

Reaffirming the importance of the full application of the provisions of Article 21 and of access to the financial mechanism for all eligible Parties for the full implementation of the Convention, and welcoming the valuable role of the Global Environment Facility as the institutional structure operating the financial mechanism of the Convention on an interim and ongoing basis,

Recalling Article 21, paragraph 3, of the Convention, providing that the Conference of the Parties shall review the effectiveness of the financial mechanism,

Reaffirming the commitment of the Conference of the Parties to periodically review the effectiveness of the financial mechanism in implementing the Convention in the memorandum of understanding with the Council of the Global Environment Facility contained in decision III/8,

Reaffirming also decision XI/5, paragraph 7, on the quadrennial arrangement for the review of the effectiveness of the financial mechanism,

Recalling decision 14/23, paragraph 13, regarding the terms of reference for the sixth review of the effectiveness of the financial mechanism, for consideration by the Conference of the Parties at its fifteenth meeting,

Reaffirming the importance of the review of the effectiveness of the financial mechanism in the implementation of the Convention and its Protocols, strategies and programmes,

1. Welcomes the report of the Council of the Global Environment Facility to the Conference of the Parties at its fifteenth meeting;

2. Takes note of the importance of a realistic assessment of funding necessary and available for the implementation of the Convention and its Protocols for the eighth replenishment period of the Global Environment Facility, aligned with the draft post-2020 global biodiversity framework at the time of the conclusion of the eighth replenishment;

3. Requests the Global Environment Facility to include in its report to the Conference of the Parties and the Conference of the Parties serving as the meetings of the Parties to the Protocols an explanation of how the eighth replenishment period of the Global Environment Facility, through the elements of its programming directions is contributing to the implementation of the Convention and its Protocols and to the goals and targets of the Kunming-Montreal Global Biodiversity Framework and its monitoring framework;

4. Urges the Global Environment Facility to support Parties in their effort to enhance policy coherence as part of biodiversity mainstreaming to facilitate the effective and efficient implementation of the Kunming-Montreal Global Biodiversity Framework;

5. Adopts the four-year outcome-oriented framework of programme priorities of the Convention on Biological Diversity for the eighth replenishment period (July 2022 to June 2026) of the Global Environment Facility, aligned with the Kunming-Montreal Global Biodiversity Framework, contained in annex I to the present decision;

6. Welcomes the eighth replenishment of the Global Environment Facility and notes that its associated programming directions and strategies, including for the biodiversity focal area, have taken into account the draft post-2020 global biodiversity framework at the time of the conclusion of the eighth replenishment;

7. Urges relevant Parties to make prompt and full use of the programming directions and resource allocation for the eighth replenishment of the Global Environment Facility;

8. Requests the Executive Secretary to collaborate with the Global Environment Facility and related agencies, as appropriate, in:

9. Adopts the consolidated previous guidance to the Global Environment Facility contained in annex II A to the present decision, decides to retire the previous decisions and elements of decisions, as related to the financial mechanism and limited only to those provisions related to the financial mechanism and also adopts additional guidance to the Global Environment Facility contained in annex II B to the present decision;

10. Decides to adopt, at its sixteenth meeting, a four-year outcome-oriented framework of programme priorities for the implementation of the Convention and its Protocols aligned with the KunmingMontreal Global Biodiversity Framework to inform the ninth replenishment of the Global Environment Facility Trust Fund (2026–2030);

11. Requests the Executive Secretary to prepare elements of a draft four-year outcome-oriented framework of programme priorities for the implementation of the Convention and its Protocols aligned with the Kunming-Montreal Global Biodiversity Framework in anticipation of the ninth replenishment of the Global Environment Facility Trust Fund (2026–2030), for consideration by the Subsidiary Body on Implementation at a meeting prior to the sixteenth meeting of the Conference of the Parties;

12. Requests the Subsidiary Body on Implementation to prepare proposals for a draft four-year outcome-oriented framework of programme priorities for the implementation of the Convention and its Protocols aligned with the Kunming-Montreal Global Biodiversity Framework, in anticipation of the ninth replenishment of the Global Environment Facility Trust Fund (2026–2030), for consideration by the Conference of the Parties at its sixteenth meeting;

13. Adopts the terms of reference for a full assessment of the amount of funds that are necessary to assist developing countries and countries with economies in transition, in accordance with the guidance provided by the Conference of the Parties, in fulfilling their commitments under the Convention and its Protocols for the ninth replenishment period of the Global Environment Facility, as contained in annex III to the present decision;

14. Requests the Executive Secretary to ensure completion of the assessment according to the terms of reference set out in annex III to the present decision, in time for consideration by the Subsidiary Body on Implementation, and subsequently by the Conference of the Parties at its sixteenth meeting;

15. Invites developing country Parties and Parties with economies in transition to identify related national funding priorities, including nationally prioritized funding needs that could be considered as eligible for funding under the financial mechanism specifically for the period July 2026 to June 2030, and submit the results to the Executive Secretary for inclusion in the funding needs assessment;

16. Invites the governing bodies of the various biodiversity-related conventions, further to paragraphs 2, 3 and 4 of decision XII/30, and paragraph 10 of decision XIII/21, to repeat the exercise described therein for the development of strategic guidance for the ninth replenishment of the Global Environment Facility in time for consideration by the Conference of the Parties at its sixteenth meeting;

17. Adopts the terms of reference for the sixth quadrennial review of the effectiveness of the financial mechanism contained in annex IV to the present decision, and requests the Executive Secretary to ensure that the report on the sixth quadrennial review of the effectiveness of the financial mechanism is made available three months prior to the sixteenth meeting of the Conference of the Parties;

18. Calls upon the Global Environment Facility to further reform its operations to ensure adequacy, predictability, and the timely flow of funds by establishing easy and effective access modalities, including by scaling fast-track systems, and by facilitating new contributors;

Global Biodiversity Framework Fund

19. Recognizes the urgency to increase international biodiversity finance and to establish a dedicated and accessible fund in 2023 for the Kunming-Montreal Global Biodiversity Framework that can quickly mobilize and disburse new and additional resources from all sources, commensurate with the ambition of the Framework;

20. Requests the Global Environment Facility to establish, in 2023, and until 2030 unless the Conference of the Parties decides otherwise, a special trust fund to support the implementation of the Kunming-Montreal Global Biodiversity Framework, to complement existing support and scale up financing to ensure its timely implementation, taking into account the need for adequacy, predictability, and timely flow of funds;

21. Also requests the Global Environmental Facility to prepare a decision to be considered by the Council, on the approval of the Global Biodiversity Framework Fund, with its own equitable governing body, to be dedicated exclusively to supporting the implementation of the goals and targets of the Kunming-Montreal Global Biodiversity Framework;

22. Further requests the Global Environment Facility to advance the necessary institutional and governance arrangements to allow for the Global Biodiversity Framework Fund to receive financing from all sources, in addition to official development assistance;

23. Requests the Global Environment Facility to design and implement a project cycle with a simple and effective application and approval process, providing easy and efficient access to resources of the Global Biodiversity Framework Fund;

24. Calls upon the Global Environment Facility to approve these decisions at the next possible session of the Council and its ratification at the next possible session of the Assembly in 2023;

25. Calls for immediate substantive contributions from all sources, in line with Target 19 of the Kunming-Montreal Global Biodiversity Framework;

26. Requests the Global Environmental Facility to engage all multilateral development banks and other international financial institutions in the design and operationalization of the Global Biodiversity Framework Fund, with the view of leveraging additional resources from and for the Fund and channel them through new and existing biodiversity portfolios, which need to be aligned with the goals and targets of the Kunming-Montreal Global Biodiversity Framework;

27. Also requests the Global Environment Facility to report on the progress in establishing, and on the operations and performance of, the Global Biodiversity Framework Fund, to future meetings of the Conference of the Parties;

28. Decides to assess the progress made in establishing, and on the operations and performance of, the Global Biodiversity Framework Fund, and to consider and adopt further guidance to the Global Environment Facility and to the governing body referred to paragraph 21 above, on the modalities and operation of the Fund, at its future meetings;

29. Also decides to undertake and act upon, at its eighteenth meeting, a stocktake review on the operations and performance of the Global Biodiversity Framework Fund regarding its scale, speed, accessibility, and future arrangements.