YEREVAN, Oct. 28 (Xinhua) -- The 17th meeting of the Conference of the Parties to the United Nations (UN) Convention on Biological Diversity (COP17) in the Armenian capital of Yerevan has entered its final stretch.

The conference has adopted 14 decisions and secured more than 1.8 billion U.S. dollars in financial commitments. Yet negotiators remain divided over some of the most contentious issues, including who should bear the cost of protecting nature and how global commitments can be translated into measurable results.

With the conference due to conclude on Friday, the focus has shifted from reaffirming global biodiversity goals to reaching agreement on how to achieve them.

TANGIBLE PROGRESS

The COP17 marks the first global review of progress under the Kunming-Montreal Global Biodiversity Framework, adopted in 2022 with 23 targets to halt and reverse biodiversity loss by 2030.

There are encouraging signs of international cooperation, said Astrid Schomaker, executive secretary of the Secretariat of the Convention on Biological Diversity, noting that nearly 90 percent of the convention's parties have established national biodiversity targets, while more than 70 percent have submitted national reports.

The negotiations have also yielded concrete results. Parties have adopted 14 decisions under the convention, covering areas such as invasive alien species, biosafety, gender equality and education.

Funding announcements have added to the summit's momentum, with new commitments from governments, philanthropic organizations and other partners.

The Executive Council of the China-initiated Kunming Biodiversity Fund has approved nine biodiversity conservation projects worth roughly 4.5 million dollars for developing nations, Dong Baotong, vice minister of China's Ministry of Ecology and Environment, said Monday.

China has contributed 400 million yuan (60 million dollars) to the fund, which supports biodiversity conservation in developing countries. Schomaker depicted the initiative as an agile instrument for channeling support to where it is needed.

Elsewhere, nine philanthropic organizations pledged 500 million dollars through 2030 for species recovery, while the Global Biodiversity Framework Fund secured over 60 million dollars in new pledges.

These achievements demonstrate that environmental multilateralism is continuing to deliver, even amid profound geopolitical shifts, said Inger Andersen, executive director of the UN Environment Programme (UNEP).

"Nature is not a luxury we protect when economies can afford it," said Andersen. "Nature is what makes economies possible."

OBSTACLES AHEAD

Securing new financial commitments is one thing; establishing a sustainable, long-term funding model for biodiversity conservation is another.

Despite the pledges announced in Yerevan, countries remain divided over who should contribute to international biodiversity finance, how much they should pay and how the funds should be allocated.

Other sticking points include reforming subsidies and incentives that harm nature, arrangements for indigenous peoples and local communities, and aligning biodiversity action with climate commitments and other international obligations.

Andersen said ministers are attending the conference's final week to help break the deadlock, particularly on resource mobilization and the global review.

"Financing the destruction of nature with 30 dollars against every dollar spent restoring it is like paying 30 people to tear down your house for every one hired to rebuild it," Schomaker said, framing the way forward around three priorities: accountability, alignment and acceleration.

According to Schomaker, "accountability" means identifying where countries are falling short through national reporting and scientific evidence, while "acceleration" means stepping up efforts to meet the framework's 2030 targets. "Alignment" may prove the hardest part, requiring governments to ensure that public budgets, private investment, economic policies and financial incentives reinforce rather than undermine biodiversity objectives.

The private sector is already pressing for change. More than 130 businesses and financial institutions have called for faster reform of incentives harmful to biodiversity.

Yet, for companies and investors, uncertainty remains over how global biodiversity targets will translate into national regulations, investment requirements and standards for measuring conservation results. Without clearer and more consistent rules, even a growing willingness to invest in nature may struggle to produce results at scale.

Meanwhile, the environmental pressures driving the negotiations are intensifying. UNEP's latest Emissions Gap Report warns that global warming could reach 2.8 degrees Celsius this century under current policies, with potentially severe consequences for ecosystems and biodiversity.

The United Nations' State of Biodiversity Action report, released ahead of COP17, found that fewer than half of the national biodiversity targets assessed by countries were on track.

Against this backdrop, much now hinges on the proposed "Yerevan Pathway," a document that identifies measurable priorities to address gaps in implementing global biodiversity targets over the next two years.

The conference has already shown that multilateral cooperation can deliver decisions and mobilize resources. Whether it can also resolve the harder questions of financing and implementation will be the real test of its success.

"COP17 will be judged by the long-term results we achieve together after the conference, rather than the number of statements made in Yerevan," said Armenian Environment Minister and COP17 President Hambardzum Matevosyan.