It is first COP since adoption of Kunming-Montreal Global Biodiversity Framework (KMGBF), serving as critical platform to assess progress and address ongoing challenges to framework.

Major outcomes of CoP-16

• Operationalisation of Cali Fund: Large companies benefiting from Digital Sequence Information to contribute a percentage of profit to support indigenous people. 
• Agreement to establish a Permanent Subsidiary body: Under Article 8(j) of CBD to enhance participation of indigenous people in all processes of convention. 
• Launch of Kunming Biodiversity Fund (KBF):  Supports accelerated action to deliver 2030 Agenda and SDG targets and 2050 goals of KMGBF.
• Others: Discussions on synthetic biology, invasive alien species and identification of Ecologically or Biologically Significant Marine Areas etc.

About KMGBF

• KMGBF (adopted in CoP-15, 2022, at Montreal Canada) includes four goals for 2050 and 23 targets for 2030. Targets address threats to biodiversity, meeting people's needs through sustainable use etc. Some of them being: 
  • 30-by-30 agreement  (protect 30% of land and water by 2030)
  • Reducing the introduction of invasive alien species by 50% by 2030. 
  • Formulate mechanism for “benefit-sharing from use of digital sequence information on genetic sources” and traditional knowledge