Article 25. Financial Mechanism and Resources

Abstract

This chapter discusses the role of the financial mechanism under the Protocol, and the role of other forms of financial solidarity, in turn. The international governance of the financial mechanism under the Nagoya Protocol includes a key role not only for the Protocol's governing body, but also for the Convention on Biological Diversity (CBD) Conference of the Parties (COP). In voluntarily providing financial resources through other channels, developed countries are to take into account the needs of developing countries, as identified in their capacity need self-assessments, and may choose between bilateral, regional and multilateral channels. Intergovernmental discussions preparing for the entry into force of the Protocol have already identified the need to take a strategic approach to maximize opportunities for financial support as a complement to the Global Environment Facility (GEF). Governments, organizations, private sector and financial institutions are encouraged to provide financial resources for the implementation of the Protocol.Keywords: Conference of the Parties (COP); Convention on Biological Diversity (CBD); financial mechanism; financial resources; Global Environment Facility (GEF); Nagoya Protocol