Reuters։ What issues should the COP17 held in Armenia aim to address?

World leaders, diplomats and nature experts gather in Armenia this week to assess lagging efforts to halt biodiversity loss, with countries off track on most global targets and divisions over funding still unresolved, Reuters writes.

The 17th UN "Conference of the Parties", dubbed COP17, is the first major review of progress under the Kunming-Montreal Global Biodiversity Framework, the landmark 2022 agreement that aims to protect 30% of land and sea by 2030. The climate-focused COP31 begins on November 9 in Antalya, Turkey.

While the world is likely to reach an estimated 27.5% of land protection by 2030, scientists say many of the broader goals needed to halt biodiversity loss remain well off track. From pesticide use to unsustainable fishing and subsidies for a host of damaging activities, the deterioration of ecosystems threatens food production, water security and economic stability across the planet.

Countries are currently not on track ⁠to meet 22 of the 23 goals set out in the Kunming-Montreal framework, a draft UN report showed.

While the UN says 144 countries including Brazil and China have so far created action plans, who pays and how much towards a $30 billion public finance goal is less clear and will be central to two weeks of talks in Armenia's capital Yerevan.

The broader goal is to mobilise at least $200 billion per year by 2030.

Another major focus is reforming $500 billion a year of subsidies for activities that damage nature, with governments urged to set a two-year timeline to identify and redirect the most damaging ones. That could, for example, include those that encourage farmers to cut down rainforest or the offer of state discounts on synthetic fertilisers and chemical pesticides which damage soil and water.

Doing so would help governments address nature loss and related issues like food and energy security without committing more public money at a time of war, energy crises and other inflationary pressures.

"This isn't ⁠primarily a story about conservation․ It's an economic, fiscal, political and competitiveness story, which is grounded in resilience and resource security," said Eva Zabey, CEO of the non-profit Business for Nature at a media briefing.