Countries adopt Yerevan Pathway at COP17 biodiversity summit in Armenia

Delegates at the United Nations COP17 biodiversity conference in Yerevan, Armenia, completed negotiations on Saturday by adopting an agreement known as the Yerevan Pathway. Xinhua and the Premium Times reported that countries approved the framework to speed up measures aimed at reversing nature loss. However, funding mechanisms remain unresolved, according to reporting by the New York Times. [1][7][8][11][12]

Countries completed their first global review of progress towards reversing nature loss by 2030 during the summit, Carbon Brief reported. The review noted with deep concern that the 2030 goals will not be achieved unless efforts are rapidly accelerated, urging governments to increase ambition across 23 global nature targets. [3]

Funding for biodiversity protection remained a central point of tension through the end of the conference. The Economic Times reported that an impasse over biodiversity finance clouded the closing negotiations, while the New York Times noted that countries renewed promises to protect wildlife without resolving how to cover the necessary costs. [1][9]

As FTMQ Climate reported earlier, negotiators faced severe gridlock entering the final days of the summit over funding shortfalls and forest trade rules. Earlier stocktaking showed that developed nations were failing to meet targets to close a 200 billion dollar biodiversity finance gap, leaving countries behind on 22 of the 23 global targets set for 2030. [14][15]