YEREVAN, OCTOBER 26 — A flagship initiative announced today at the 17th UN Biodiversity Conference (COP 17) offers countries pathways to mobilize the funding they need for biodiversity conservation by screening and repurposing public spending that is harmful to nature.
The Yerevan Call on Incentives Positive to Biodiversity is being led by Armenia as one of four flagship initiatives of its COP 17 presidency. It is supported by the Convention on Biological Diversity Secretariat, the International Institute for Sustainable Development (IISD), the Organisation for Economic Co-operation and Development, and the United Nations Development Programme’s Biodiversity Finance Initiative (UNDP BIOFIN).
The Yerevan Call lays out a practical plan to repurpose existing incentives that harm nature and scale up positive incentives that will protect it. This goal is captured in Target 18 of the Global Biodiversity Framework and, as new research reveals, it could be the key to closing the ‘finance gap’ for nature, which is estimated at USD 700 billion per year.
“Our work here in Yerevan can influence how natural resources are used, how goods are produced and consumed, and where public and private financial resources are directed,” ays Hambardzum Matevosyan, Minister of Environment of the Republic of Armenia and COP 17 President.
“Our ambition is to build an inclusive platform that respects national priorities, strengthens cooperation, and translates political commitments into practical, lasting action for nature,” the COP17 President concluded.
The call to action outlines the strategic direction needed to accelerate implementation of Target 18 by 2030. It is supported by two practical initiatives aimed at translating this ambition into action: the Friends of Target 18 and the Yerevan Biodiversity Finance Challenge.
The Friends of Target 18 is a government-led coalition co-chaired by Colombia and Finland and convened by IISD. It aims to foster sustained political and technical cooperation, knowledge exchange, and peer learning.
The Yerevan Biodiversity Finance Challenge is a platform developed by UNDP BIOFIN for translating political ambition into concrete action at the country level. As a first concrete step, the challenge launched a USD 2 million call for proposals through the UNDP Funding Windows Nature Pledge Flagship Fund, with support from Germany and its International Climate Initiative.
“We don’t need to spend more to close the biodiversity funding gap, we need to spend better. Governments have a real opportunity here to reshape public spending with future generations in mind, but they can’t do it alone. International coordination is key to giving governments the confidence to lead change,” says Marina Von Weissenberg, senior ministerial adviser, Finland, and co-chair of the Friends of Target 18.
Notes for editors:
IISD Quote:
“Target 18 provides a unique opportunity to ensure public resources support rather than undermine our environmental commitments. But success requires political leadership, sustained international collaboration, and practical support for countries to deliver change. This is why IISD is helping countries work together to accelerate progress through the Friends of Target 18.” Patricia Fuller, president and CEO, IISD.
UNDP Quote:
“The Yerevan Call sets the political direction, and the Friends of Target 18 creates a platform for cooperation. The Yerevan Biodiversity Finance Challenge is the vehicle through which countries will implement on the ground. By bringing finance, planning and environment ministries together, we hope to help governments change how public money is allocated and how incentives shape economic decisions.” Onno van den Heuvel, global lead, Nature Finance, UNDP
Supporting materials:
- Launch event details: The Yerevan Call on Incentives Positive to Biodiversity: Launch of the Friends of Target 18 and the Yerevan Biodiversity Finance Challenge
- Expressions of interest to join the Yerevan Biodiversity Finance Challenge
For further information and interviews:
- Paulina Resich, senior communications manager, IISD: presich@iisd.org
- Josie Raine, global communications lead, biodiversity and ecosystems, UNDP, josie.raine@undp.org
- Mahtab Haider, BIOFIN global communications lead, UNDP mahtab.haider@undp.org
About IISD
The International Institute for Sustainable Development (IISD) is a globally recognized think tank with 3 decades of experience working to solve the world’s most pressing sustainable development challenges. We combine deep expertise in a wide range of issues with a collaborative approach to research, policy advice, and hands-on support to ensure these solutions are brought to life. Headquartered in Winnipeg, Manitoba, we are a diverse team of over 300 professionals working from offices in Canada, Switzerland, and other locations around the world.
About UNDP
UNDP is the leading United Nations organization fighting to end the injustice of poverty, inequality, and climate change. Working with our broad network of experts and partners in 170 countries, we help nations to build integrated, lasting solutions for people and the planet. Learn more at undp.org or follow at @UNDP.
