COP17: key takeaways from the global biodiversity summit

COP17 concluded in Yerevan, Armenia, on 31 October 2026 with agreement on a plan of action to accelerate implementation of the 2030 nature targets (now being called the “Yerevan Pathway”) (see UN press release). The first global review of progress towards the goals of the 2022 Kunming-Montreal Global Biodiversity Framework (GBF) acknowledged a lack of progress, with finance among the main barriers. 

What was COP17 intended to achieve?

Adopted at COP15 in 2022, the GBF sought to halt and reverse biodiversity loss by 2030 through 23 targets covering conservation of 30% of land and sea, restoration, pollution, sustainable agriculture, incentives and finance (see our previous blog post). The COP16 negotiations in Rome in February 2025 advanced the financing and monitoring arrangements needed to deliver those commitments (see our previous blog post). 

Just ahead of COP17, the UN released a global report finding that the world is falling behind on 22 out of 23 of its nature targets for 2030 (although only 45% of countries had published national biodiversity strategies and action plans in time for inclusion in the global report). The report formed the basis for COP17, which marked the half-way point for the GBF and focused on reviewing progress against the 23 targets and with a view to addressing the financing and policy gaps preventing delivery. 

Key takeaways

• Global review and Yerevan Pathway. Countries agreed to accelerate action and increase ambition, while recognising that developing countries need more support. The Pathway strengthens monitoring, reporting, developing-country support and alignment of budgets and economic decisions with biodiversity. 
• Funding remains the biggest sticking point. Developed countries missed their commitment to provide at least $20bn annually by 2025, against the GBF’s wider Target 19 goal of mobilising at least $200bn a year from all sources by 2030. A compromise allows additional countries to signal interest in joining the donor list before COP18. Countries agreed a post-2030 financial mechanism under COP governance, but postponed decisions on its institutional structure until COP18.
• Caveated progress on reducing harmful incentives. Despite an existing goal to identify by 2025 and then reduce harmful subsidies by at least $500bn a year by 2030 (Target 18), 84% of countries missed the 2025 deadline to identify them. The final agreement “encourages” faster action, subject to “national circumstances, priorities and capabilities”.
• The Cali Fund remains almost empty. Agreed at COP16 and launched in February 2025, the fund is intended to share benefits from the commercial use of digital sequence information on genetic resources. Relevant companies are expected to contribute voluntarily, with at least half the proceeds allocated to the self-identified needs of Indigenous peoples and local communities. The mid-summit stocktake reported commitments of only just over US$10,000 from two companies.
• Further progress on participation. Countries agreed operating arrangements for the permanent Article 8(j) body created at COP16, providing a dedicated space for Indigenous peoples to advise and contribute their views directly at biodiversity COPs.

What else happened outside the negotiations?

• The Taskforce on Nature-related Financial Disclosures (TNFD) announced updates to its recommendations and LEAP assessment approach (LEAP 2.0), strengthening guidance on risk assessment, nature measurement, transition planning, financial institutions and environmental crime. These updates are the first since September 2023 and complete TNFD’s technical work supporting assessment and disclosure by report preparers and users. The TNFD announced ahead of COP17 that over 830 organisations across 57 countries and areas have committed to nature-related reporting — including asset managers overseeing $26.5 trillion in assets under management and publicly-listed companies with a total market capitalisation of $10.5 trillion. See our TNFD Quick Guide.
• The International Sustainability Standards Board (ISSB) launched its consultation on proposed nature-related disclosure guidance during COP17. The proposed Practice Statement aims to support companies in applying the ISSB standards to nature-related risks and opportunities and draws directly on the TNFD framework. The consultation closes on 19 February 2027. See our blog post.
• The Science Based Targets Network (SBTN) launched Science-Based Targets for Nature 2.0, revising its corporate framework to offer more flexible target-setting pathways and broader coverage. With a stronger focus on implementation, the update provides guidance, response options and an action-plan template to help companies put nature targets into practice and integrate them into wider nature and climate transition planning. 

What happens next?

The next formal gathering will take place in Quito, Ecuador, in 2028. COP18 will revisit the post-2030 financial mechanism’s structure and review the Cali Fund mechanism.

COP31 (the climate COP) taking place from 9 to 20 November 2026 in Antalya, Turkey in Antalya is expected to cover how climate and biodiversity issues are linked. 

Both COPs provide key opportunities to review progress on earlier financial commitments and assess whether they have led to action.