Fundraising to protect oceans, forests and other key nature sites falling short ahead of UN summit

illuminem summarises for you the essential news of the day, reviewed by our editorial team. Read the full piece on Associated Press or enjoy below:

🗞️ Driving the news: Global funding to protect biodiversity is falling far short of international commitments as nearly 200 countries gather in Yerevan, Armenia, for COP17, the UN Biodiversity Conference
• Nations pledged to mobilise $200 billion annually for biodiversity by 2030, protect 30% of land and water, and increase funding for developing countries
• Current commitments would protect only 26% of land and 12% of oceans by 2030

🔭 The context: OECD data shows countries raised just $75 billion–$92 billion annually for biodiversity between 2023 and 2025, less than half the 2030 funding target
• Progress on reforming $500 billion in harmful subsidies has also been limited
• Although developing countries were on track to receive $20 billion annually by 2025, declining foreign aid threatens future funding
• COP17 will assess progress against 23 global biodiversity targets, with fewer than half currently on track.

🌍 Why it matters for the planet: Underfunded conservation leaves forests, oceans, rivers and wildlife exposed to habitat destruction, overfishing, pollution and climate-driven wildfires and droughts
• Redirecting subsidies that damage nature toward conservation could help reverse biodiversity loss and protect vital ecosystems

⏭️ What’s next: COP17 will test whether governments, businesses and philanthropies can turn pledges into reliable funding and effective protection. Positive developments include a new 17-country coalition to accelerate species recovery and a commitment by nine private organisations to invest $500 million over five years in threatened species. Negotiators will also debate how to reform nature-harming subsidies and support biodiversity-rich developing countries.

💬 One quote: “We’re not moving fast enough,” said Astrid Schomaker, executive secretary of the Convention on Biological Diversity.

📈 One stat: $7.3 trillion: the estimated annual value of subsidies that harm nature—around 30 times the amount invested in nature-based solutions in 2023, according to the Campaign for Nature.

Subscribe to our free newsletters to never miss a beat in sustainability.

The world needs sustainability knowledge. At illuminem, no interest group or shareholder can influence our work. Thank you for supporting our mission to make high-quality and independent sustainability information free for all. Every contribution helps. Thank you for donating today.