1.2.3. Biodiversity targets

1.2.3. Biodiversity targets

The Global Biodiversity Framework sets ambitious financial targets. They address financing from all sources: domestic and international, public and private. Global biodiversity finance from all sources must reach USD 200 billion per year by 2030. As part of the agreement, international biodiversity finance must increase to USD 20 billion a year by 2025, and USD 30 billion by 2030. The agreement calls for the alignment of financial flows and investments with biodiversity objectives. Public and private financial flows must stop destroying nature and must, as far as possible, become nature positive. The targets also provide for the identification, elimination, phasing-out or reform of subsidies that are harmful for biodiversity by at least USD 500 billion per year by 2030.

Recital 49 of the NDICI-Global Europe Regulation, Recital 25 of the IPA III Regulation, Recital 25 of the ‛Reform and Growth Facility for the Western Balkans’ Regulation and Recital 24 of DOAG state that actions under these instruments should contribute to the ambition of providing 7.5 % of annual spending under the MFF to biodiversity objectives in 2024 and 10 % in 2026 and 2027. There is no biodiversity-specific target under the Ukraine Facility Regulation (see section on climate targets above).

In addition, in her State of the EU address in September 2021, President von der Leyen announced that the EU would double its external funding for biodiversity, in particular for the most vulnerable countries⁽¹⁾. This implies that EUR 7 billion of EU external assistance (2021-2027) should contribute to biodiversity.