World leaders, diplomats, and environmental experts convened this week in Yerevan, Armenia, for the United Nations Conference of the Parties (COP17) to evaluate global progress in addressing biodiversity loss. This event marks the first significant review under the 2022 Kunming-Montreal Global Biodiversity Framework, which sets an ambitious target to conserve 30% of terrestrial and marine environments by 2030.

Despite advances toward protecting approximately 27.5% of land area, broader objectives to prevent biodiversity decline remain significantly off course. According to a draft United Nations report, nations are failing to meet 22 of the 23 goals outlined in the framework. Experts point to ongoing environmental challenges such as excessive pesticide use, unsustainable fishing practices, and continued subsidies for activities harmful to ecosystems. These threats jeopardize global food security, water availability, and economic stability.

While 144 countries—including major players such as Brazil and China—have developed action plans to support these conservation efforts, key questions remain regarding the financing of these initiatives. The framework aims to mobilize at least US$200 billion annually by 2030, with a public finance goal of US$30 billion under discussion during the two-week negotiations in Armenia. However, disagreements over who will contribute and how much funding will be allocated continue to impede consensus.

A significant focus of the talks is the reform of approximately US$500 billion per year in subsidies that incentivize environmentally damaging activities. Governments are being urged to identify and redirect the most harmful subsidies within two years. These include incentives encouraging deforestation, as well as discounts on synthetic fertilizers and chemical pesticides that degrade soil and pollute water sources. Reforming these subsidies is viewed as a means to advance environmental goals without requiring additional public expenditure amid ongoing crises including warfare, energy shortages, and inflation.

Eva Zabey, chief executive of Business for Nature, emphasized that the issue extends beyond conservation. She described it as a “fiscal, political and competitiveness story” rooted in economic resilience and resource security. Ahead of the meeting, over 130 corporations, among them retailer H&M and consumer goods firm Nestle, signed an open letter calling for clearer policies and subsidy reform plans within the next year to encourage sustainable investment.

With public funds constrained, the private sector is expected to take on a greater role in biodiversity preservation. One mechanism under review is the Cali Fund, established in 2025 to require companies that depend on digital databases of biological samples—such as those in pharmaceuticals, cosmetics, and commercial agriculture—to contribute financially to conservation efforts. Key issues, including equitable fund distribution between countries and indigenous communities and the basis for corporate contributions, remain unsettled.

Cristian Samper, managing director and leader of Nature Solutions at the Bezos Earth Fund, highlighted the stakes. He asserted the necessity for governments to support conservation teams more robustly, noting that species recovery is possible with stronger political commitment. As the talks proceed, negotiators face the challenge of balancing environmental imperatives with economic and political realities to halt the accelerating loss of global biodiversity.