Milestone on nature funding agreed at COP16 continuation talks in Rome

Countries from around the world reached a milestone agreement at the COP16 continuation talks held in Rome to mobilise $200 billion annually for nature by 2030. The agreement was focused on implementing the Global Biodiversity Framework (GBF) which aims to halt and reverse biodiversity loss by 2030. Key discussions included the establishment of the Cali Fund to channel resources into biodiversity projects and a resource mobilisation strategy to bridge the existing $1 trillion gap in nature financing. The discussions also stressed the importance of private sector funding to help deliver these ambitious targets.