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Side Event #7863

Status: SCHEDULED

Date Wednesday
2026.10.21 @ 18:15
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Room Komitas - Business and Industry Organizations Group room - Block 2, 3rd Floor

Capacity: 95 people
Conference COP-17 / CP-MOP-12 / NP-MOP-06
Meetings(s)
COP-17
Seventeenth meeting of the Conference of the Parties to the Convention on Biological Diversity
Title Accelerating Implementation of Target 18 of the Kunming-Montreal Global Biodiversity Framework (KMGBF)
Hosts
IISD | CI | UNDP-BIOFIN | Business for Nature | ORG WAITING FOR APPROVAL |
 

 

Background

Governments spend trillions of dollars each year on subsidies that unintentionally harm nature, weaken climate resilience, and strain national budgets. Reforming even a fraction of these subsidies is one of the most cost-effective ways for countries to achieve climate and biodiversity goals while improving economic outcomes. 

To raise ambition and accelerate progress toward Target 18, it is critical to bring experts together to identify and scale solutions, share best practices, and promote collective action.  

This event aims to showcase collective efforts in response to this need and provide a space for governments and supporting partners to discuss solutions. 

Friends of Target 18 (iFoT18): The informal Friends of Target 18 initiative was established in March 2026 and aims to support Parties and stakeholders with practical tools, policy options, and coalition‑building to secure meaningful outcomes on Target 18 at COP17 and focus on implementation on Target 18 beyond COP17.

The event will mark the next phase of the formalised Friends of T18 (FoT18) - to be launched at COP17 - as a strategic platform for Target 18 coordination and implementation. This platform aims to: 

  • Accelerate implementation of KMGBF Target 18;
  • Support the reform of biodiversity-harmful subsidies and scaling of positive incentives;
  • Strengthen whole-of-government, whole-of-society approach  
  • Enable technical exchange of information, peer learning, and collaboration between Parties and stakeholders.

The other initiatives to be profiled during this event include: 

  • The Yerevan Call on Positive Incentives Towards Biodiversity
  • UNDP BIOFIN’s work with countries on the reform of environmentally harmful subsidies 
  • Conservation International’s Accelerating Rapid Transition of Subsidies and Incentives (ARTSI) Initiative 
  • Business for Nature’s Incentives Campaign 

Objective

Formally launch the FoT18 and showcase new initiatives that aim to provide the practical models, technical capacity, dedicated support and political will countries need to accelerate progress on Target 18, deliver lasting reforms and unlock progress on the whole Global Biodiversity Framework (GBF).  

Proposed format (90 minutes)

1. Opening Remarks (IISD) (5 min)

2. Scene-setting: Why Target 18 matters and how the Friends of Target 18 can help support implementation (FoT18 co-chairs) (10 min)

  • Overview of KMGBF T18, progress its role in ensuring increased finance in support of biodiversity goals and vital importance for achieving other KMGBF targets;
  • Key challenges in subsidy reform and scaling up positive incentives.

 

3. Presentation from COP17 Presidency - "The Yerevan Call on Positive Incentives Towards Biodiversity" (15 mins)

  • Yerevan Call actions and commitments;
  •          Links between the Yerevan Call and the Friends of Target 18.

  •  

4. Formal launch of the Friends of Target 18 (15 min)

         Presentation of the Friends Group, objectives, and structure; 

         Formal announcement of the platform; 

         Introduction of a post-COP17 workplan.

 

5. Reaction from FoT18 members and other Parties (15 min)  
 

  • Statements from FoT18 members and other Parties;
  • Statement from Secretariat of CBD.

 

6. Panel Discussion: Experiences and Opportunities (25 min)

Speakers could include:

  • Government representatives from the Friends Group (e.g. Finland, Colombia as co-chairs & others);
  • International organisation working on the reform of biodiversity-harmful subsidies (UNDP BIOFIN);
  • Policy experts speak to reality of reform in country, experience from ARTSI Initiative (Conservation International);
  • Civil society representative from the stakeholder group (eg. Indigenous Peoples, Local Communities or Farmers);
  • Business representative from the stakeholder group (BFN).

 

Focus:

  • Lessons learned from subsidy reform; 
  • Opportunities for scaling positive incentives; 
  • Cross-sectoral coordination challenges and solutions. 

 

5. Interactive Q&A with the Audience (10 min)

6. Closing remarks (5 minutes)

 

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