The United Nations Biodiversity Conference (COP17) wrapped up in Yerevan on 30 October after two weeks of intense negotiations, leaving many delegates disappointed with the lack of concrete progress. The summit was meant to serve as a checkpoint for the Kunming-Montreal Global Biodiversity Framework (KMGBF), the landmark 2022 agreement often described as the “Paris Agreement for nature.” Instead, it exposed deep divisions over financing, subsidies, and the role of science.
“We need to see concrete priorities coming out of the negotiations. But unfortunately, this is not the case yet,” said Irene Wabiwa of Greenpeace International, reflecting a sentiment shared by many civil society groups and developing nations.
Global assessment shows slow progress
Just before the summit, UN Secretary-General António Guterres released the first global assessment of progress under the KMGBF. The report, titled State of Biodiversity Action, found that fewer than half of the national targets assessed are on track to meet the 2030 deadline. Of the 23 global targets, only a handful are likely to be achieved, with the most ambitious ones—such as the “30x30” goal to protect 30% of land and sea—far from being met. Currently, about 19% of land and inland waters and 10% of oceans are protected, according to the Protected Planet database.
A separate UNEP report, Nature’s Comeback, published on 29 October, examined the target of restoring 30% of degraded ecosystems by 2030. It found that land restoration has reached nearly half of that goal, but marine and coastal ecosystems are only at 23%, and freshwater ecosystems—which are degrading fastest—are at a mere 5%. The report cautions that monitoring gaps likely mean these figures are underestimated.
Funding shortfalls and political tensions
Financing remains the biggest obstacle. The annual gap for biodiversity funding is estimated at around $700 billion (€628 billion), while the strategy agreed last year aims to mobilise at least $200 billion (€180 billion) annually by 2030. Investment in ecosystem restoration alone needs to quadruple from $64 billion (€57.5 billion) to $296 billion (€266 billion) per year, according to UNEP.
During the summit, more than $1.8 billion (€1.6 billion) in new funding was announced, but this is a drop in the ocean. The EU has pushed for wealthy emerging economies, including Gulf states and China, to contribute more, but Saudi Arabia and Qatar have reportedly resisted, leading to a stalemate. The Cali Fund, a UN mechanism to share profits from genetic data use, has raised only about $10,000 (€8,900) since its launch in early 2025, far short of its $1 billion (€893 million) annual target.
Subsidies and the Yerevan Pathway
Another sticking point is Target 18, which calls for cutting harmful subsidies by at least $500 billion (€447 billion) a year by 2030. Countries remain divided over language on reducing or phasing out agricultural and other subsidies that damage nature. The EU launched the Friends of Credits for Nature and Biodiversity on 27 October, aiming to create tradable credits for nature restoration, but critics warn this could lead to greenwashing.
The summit’s main deliverable, the Yerevan Pathway, a package of decisions to accelerate implementation, remained unresolved as the conference closed. The global review, which is meant to strengthen accountability by identifying gaps and tracking collective progress, was also left in limbo. Many delegates and observers are calling for reform of the consensus-based COP process, arguing that unanimity allows a few countries to block progress.
Indigenous peoples’ groups have also demanded that governments uphold their rights and ensure meaningful participation in decisions about lands and waters they protect. Their calls were echoed in the Yerevan Declaration, adopted at a leaders’ summit on 16 October, which reaffirmed the 2030 goals but offered few new commitments.
As the dust settles in Yerevan, the question remains whether the world can get back on track. With the next COP scheduled for 2026, the pressure is on to turn promises into action. For Europe, which has been a vocal advocate for ambitious biodiversity targets, the challenge is to lead by example and bridge the funding gap. The EU’s own green policies face public scepticism, and the bloc’s ability to persuade other major economies to step up will be crucial.
Without a breakthrough on finance and subsidies, the 2030 goals will remain out of reach. As UNEP’s report warns, the cost of inaction is far higher than the investment needed. The world cannot afford another missed deadline.
