UN Biodiversity Summit in Armenia Calls for End to Harmful Subsidies

YEREVAN: The UN biodiversity summit commenced in Armenia on Monday, highlighting urgent calls for governments to reform subsidies that contribute to environmental degradation. Nearly 200 nations had previously pledged to halt and reverse nature’s destruction by 2030, yet progress has been disappointingly slow.

According to a United Nations scorecard released prior to the COP17 biodiversity talks, nearly all of the 23 goals outlined in the “Paris Agreement on Nature” are off track, with significant gaps identified in areas requiring profound economic and societal changes. UN biodiversity chief Astrid Schomaker emphasized that the most pressing issues revolve around the contentious topic of subsidy reform.

Despite commitments to eliminate harmful subsidies, approximately $2.6 trillion annually continues to be allocated to activities detrimental to biodiversity, including coal and gas extraction and industrial agriculture. Chinese Environment Minister Huang Runqiu urged delegates to reduce incentives that harm biodiversity, underscoring the need for immediate action.

As the summit progresses, discussions will focus on actionable steps to align national policies with biodiversity goals, with expectations for renewed commitments and strategies to address the ongoing crisis.