EU stresses importance of narrowing biodiversity funding gap

The European Union will work with international partners to increase investment in biodiversity conservation and mobilise private financing, European Commissioner for Environment, Water Resilience and a Competitive Circular Economy Jessika Roswall said at a briefing for journalists in COP17’s Blue Zone press room.

She said nature was fundamental to food security, health, the economy and resilience, while biodiversity was the foundation of life.

“We have a global framework for action on nature and ambitious goals to halt and reverse biodiversity loss by 2030. Our challenge now is to accelerate implementation. To do that, we need decisions that deliver progress,” Roswall said.

She added that the European Union would continue working with international partners to develop innovative approaches, encourage private investment and ensure that it delivers measurable biodiversity conservation outcomes. She stressed the importance of mobilising additional resources to narrow the biodiversity funding gap.

Ireland’s Minister of State for Nature, Heritage and Biodiversity Christopher O’Sullivan said COP17 should go beyond drawing up plans and help ensure their implementation.

He said Ireland had been among the first countries to submit a national nature restoration plan.

Turning to the Cali Fund, he said its establishment had generated considerable enthusiasm because it could finance biodiversity and nature conservation projects. However, the minister said the fund was not yet operational.

“I hope the discussions taking place over the coming hours will enable us to reach agreement on this issue as well,” he added.