Cali, Colombia – As global leaders gather for COP16, experts are concerned over the slow adoption of National Biodiversity Strategies and Action Plans (NBSAPs). Despite commitments made at COP15 to accelerate efforts in tackling biodiversity loss, only 33 of 196 countries have submitted their updated NBSAPs, raising questions about the global response to biodiversity challenges.

NBSAPs provide a framework for countries to establish national targets and report their progress. They also serve as crucial roadmaps for governments to provide direction at a national level on the management and protection of biodiversity and to guide investment toward sustainable solutions.
With biodiversity declining at an alarming rate, these plans are seen as essential for aligning national efforts with the Global Biodiversity Framework, a central outcome of COP15. Yet, the absence of plans from the majority of nations is raising concerns among experts and stakeholders.

“There has been a lot of progress since COP15,” says Andrew Sutherland, Head of Natural Capital at Palladium. “We’ve seen efforts from governments and the private sector to incorporate nature into financial decision-making, including nature-related risk assessments and sustainable investment strategies. The market is finally starting to value nature.”

Still, Sutherland would have preferred if more countries—and more “megadiverse” countries in particular—had arrived at COP16 with their NBSAPs ready to go. “These plans help to hold members states accountable for their targets and provide an enabling environment for investors to contribute to nature objectives,” he explains. “This will be vital to address the scale of the challenge.”

While some countries have taken the lead, Sutherland stresses that more nations need to follow suit. “It’s good to see some countries stepping up and leading the way – this is an important early sign. I’m hopeful that with global leaders in the room together this week, momentum will build for other countries to learn from these action plans and follow suit, urgently.”

Funding will be Crucial

The lack of comprehensive action plans is not just a policy gap—it threatens to stall critical progress in mobilising funding for biodiversity initiatives. Sutherland emphasises the importance of turning strategies into real action. “These action plans are not enough. We need to urgently see plans being turned into action on the ground and engaging the private sector will be crucial to their success.”

The slow pace of action has underscored the importance of securing financial resources. Experts agree that scaling investment is key to ensuring that biodiversity targets are met. “We need to see leaders agree on an approach to quickly mobilise the finance and resources needed,” Sutherland urges.

The discussions at COP16 will now shift toward addressing these shortcomings and fostering greater international collaboration. With only a fraction of countries coming prepared, momentum must be built quickly to ensure that the global biodiversity agenda stays on track.

The Need for Investable Solutions

Securing the financial resources to deliver on national and global nature and biodiversity commitments is one part of the puzzle, but the creation of high integrity projects and investable opportunities is also crucial.

“Palladium is developing financial catalysts that attract private finance into business models to support the protection and restoration of nature across geographies,” Sutherland shares. “For example, through the UK-funded Partnerships for Forests, we partnered with Terrasos to incubate and scale the first Colombian habitat bank.” Terrasos sells biodiversity units to private sector clients and investors interested in contributing to biodiversity protection.

Sutherland also points to Palladium’s UK woodland creation projects, which select tree species mixes that optimise biodiversity rather than simply prioritising high carbon sequestration rates.

As negotiations continue this week in Cali, hopes remain that countries without plans will draw inspiration from the pioneers and finalise their NBSAPs before it is too late. “Being here together is a critical opportunity to build that momentum,” says Sutherland. “It’s essential that we act urgently.”

The outcomes of COP16 will determine how well the global community responds to one of the most pressing environmental crises—whether the meeting becomes a turning point or another missed opportunity.

For more, read 'COP16 Lands in Colombia' or contact info@thepalladiumgroup.com.