A joint campaign has been launched which has urged developed nations to deliver on their biodiversity pledges and with it invest a minimum of $20 billion a year into nature finance.

The coalition of the Indigenous Peoples, and environment civil society organisations, including Greenpeace International, Conservation International, and WWF, launched the campaign at the Convention on Biological Diversity’s last round of negotiations before COP16, calling on governments in the developed world to make good on their commitment to deliver at least $20 billion a year in nature finance to the developing world by 2025 to protect biodiversity globally.

In a letter the campaigners said: “Developed countries have a historic and pragmatic responsibility to provide increased support to developing countries. $20 billion is a small but important contribution to developing countries’ stewardship of the biological resources and ecosystem services that the global community depends on.

“Donor governments can deliver this promise made at COP15 if they prioritize investment in a liveable planet. It will create high economic returns while avoiding future costs associated with biodiversity loss, climate change and the prevention of pandemics.”

They added closing the total biodiversity gap of $700 billion by 2030 requires a holistic approach from all sources, including international biodiversity finance, domestic resource mobilisation, reform of negative subsidies and scaling up of positive incentives in an effective, timely and easily accessible manner, while guaranteeing social and environmental safeguards, and ensuring the fulfilment of human rights, including the rights of indigenous peoples.

“However, the most immediate finance deadline is the 2025 target of at least US$ 20 billion of international finance from developed to developing countries,” the group added. “This can only be achieved, if there is tangible progress in advance of COP16.”

Irene Wabiwa, a Kinshasa-based programme manager with Greenpeace International, said:  “$20 billion from developed to developing nations per year by 2025 was agreed upon at COP15. But now with 18 months to go, we’re far from achieving that first step. There’s no time to delay, as stopping the global biodiversity crisis has been estimated to ultimately require $700 billion in funding.

“Rich countries have more than enough funds to put their money where their mouths are and protect biodiversity. Currently, governments put $1.8 trillion of subsidies every year to nature-destroying industries like industrial livestock farming and fossil fuel extraction. But they still haven’t put even 1.1% of that money to funding solutions.”

She added: “The time to show up for biodiversity is now. No solution for global biodiversity protection can be achieved without financing. The world is in the midst of a mass extinction crisis that risks the end of life on this planet before it’s through.

“Taking action on biodiversity requires fast and comprehensive financing for solutions.”