Nearly 200 countries met in Colombia as a follow-up to the 2022 Montreal meetings where 196+ countries signed a global treaty, named the Kunming-Montral Global Biodiversity Framework, to protect biodiversity and assess the commitments previously made.

 

The framework listed 23 goals to mitigate nature loss by 2030. Further, the agreement also included funding $200 billion per year. Last year, countries established the Global Biodiversity Framework Fund but at the opening of the summit it has only raised millions.

Some of the goals include setting a 30% of their territories aside for conservation while slashing subsidies for businesses that harm the environment and requiring reports on their effects. Countries were expected to submit biodiversity plans before the start of the summit that ran from October 21st through November 1st.
The agenda, while heavily focused on the financial hurdles, includes looking at how to address climate change issues and biodiversity decline. COP16 will also look to establish a global system for paying for access to data on genetic information from plants and animals.