World leaders, diplomats, and nature experts have gathered in Yerevan, Armenia, for the 17th United Nations Conference of the Parties, known as COP17. The two-week summit serves as the first major review of progress under the Kunming-Montreal Global Biodiversity Framework, a landmark 2022 agreement designed to protect 30% of the world’s land and sea by 2030.
Ahead of the upcoming climate-focused COP31 in Antalya, Turkey, participants in Armenia are confronting a sobering assessment of global environmental efforts. According to a draft UN report, countries are currently off track to meet 22 of the 23 specific goals outlined in the Kunming-Montreal framework. While projections indicate the world may reach approximately 27.5% of land protection by the end of the decade, scientists warn that broader objectives necessary to halt biodiversity loss remain significantly delayed.
Ecosystem deterioration across the globe threatens essential elements of daily life, including food production, water security, and economic stability. Specific areas of concern range from excessive pesticide use and unsustainable fishing practices to ongoing financial subsidies for activities that accelerate ecological damage. Although the UN reports that 144 nations, including Brazil and China, have established national action plans, severe divisions remain over financial commitments and funding mechanisms.
A central point of contention in Yerevan is public financing, specifically how countries will meet a $30 billion public finance target and mobilize at least $200 billion annually by 2030. Alongside funding contributions, discussions are heavily focused on reforming an estimated $500 billion spent annually on subsidies that harm nature. Governments are being urged to commit to a two-year timeline to identify and redirect these incentives—such as state discounts on synthetic fertilizers, chemical pesticides, or agricultural policies that encourage deforestation—helping to safeguard food and energy security without requiring fresh public spending during a period marked by inflation, energy crises, and global conflicts.
Advocacy groups and commercial enterprises are increasingly framing the crisis in economic terms. Eva Zabey, CEO of the non-profit Business for Nature, noted during a media briefing that the challenge is fundamentally economic, fiscal, and political rather than purely conservationist. Supporting this view, a coalition of more than 130 businesses, including major corporations like H&M and Nestlé, issued an open letter ahead of the conference. The group urged governments to establish clearer policies and a twelve-month roadmap for reforming incentives to create a more stable environment for commercial investment.
Research from Conservation International estimates that environmentally damaging subsidies ultimately cost governments between $11 trillion and $24.7 trillion annually when factoring in secondary expenses, such as pollution cleanup, public health treatments, and infrastructure repairs. With traditional public funds severely restricted, attention has increasingly turned to private sector contributions, including the Cali Fund established in 2025. The fund aims to channel financial support from industries that utilize digital databases of biological samples—such as pharmaceuticals, cosmetics, and commercial agriculture—back into nature conservation.
However, delegates must still negotiate complex implementation details, including how distributed funds should be shared among national governments and Indigenous communities, and whether corporate contributions should be calculated using total revenue or only the specific business divisions relying on genetic resources. Cristián Samper, managing director and leader of Nature Solutions at the Bezos Earth Fund, emphasized that the summit offers a vital chance for governments to intensify efforts against species extinction. With recovery proven possible, decisions made in Armenia are intended to provide conservation teams worldwide with the necessary backing to reverse current trends.
