In the early hours of the morning, an agreement was reached in Montreal to endorse the Global Biodiversity Framework. The compromise agreement contains many of the key elements advocated by the majority of countries, as well as increased financial support for developing countries, without which no support from developing countries could be expected.

Among its key targets, the agreement aims to protect at least 30% of land and 30% of marine areas globally, especially those of particular importance for biodiversity, and to restore at least 30% of degraded terrestrial, inland aquatic, coastal and marine ecosystems by 2030. The agreement will require urgent action to halt the extinction of endangered species, and reduce and mitigate the impacts of invasive non-native species on biodiversity, including by reducing introductions by at least 50% by 2030.

It also sets out to reduce the negative impacts of pollution from all sources to a level that is not harmful to biodiversity by 2030, including reducing the risks from pesticides, and working towards the elimination of plastic pollution. In the context of the climate change crisis, the search for stronger positive synergies with biodiversity is also envisaged through the use of nature-based solutions. To implement the agreement, it is envisaged to increase financial resources from all sources, both public and private, mobilising at least USD 200 billion per year by 2030.

As regards international financial assistance to developing countries, the agreement foresees an increase to USD 20 billion per year by 2025, and an increase to USD 30 billion per year by 2030. To this end, a new fund is planned to be set up next year within the framework of the Global Environment Facility (GEF). The implementation of the agreement is underpinned by a sound monitoring and reporting framework, and will be carried out through the implementation of the National Biodiversity Strategies and Action Plans, and regular reviews of progress up to 2030.