Reaffirming the importance of paragraphs 2, 3 and 4 of Article 20,
Bearing in mind the need for adequacy, predictability and timely flow of funds in support of the Convention,
Noting with regret the lack of voluntary contributions for the implementation of
decision VII/22, on arrangements for the third review of the effectiveness of the financial mechanism,
Recalling paragraph 3 of Article 21 and emphasizing the need to review the financial mechanism on a regular basis,
Realizing that synergy between the Rio conventions can offer opportunities to increase the effectiveness of the use of financial resources,
Noting the progress toward implementation of the Convention at the national level,
Noting also that although a number of developed countries have specific funding programmes for biodiversity, a much larger source of funding for developing countries is, and will continue to be, through development assistance,
Recognizing that official development assistance may provide additional financing opportunities for achieving the objectives of the Convention,
Recognizing also the dynamic nature of financial decision-making processes involving both donors and recipients,
1.Urges developed country Parties and other donors to increase their contributions to the Global Environment Facility;
2.Considers financial sustainability in advancing various programmes of work of the Convention;
3.Examines the New Resource Allocation Framework adopted by the Council of the Global Environment Facility with respect to potential implications on the implementation of the Convention;
4.Affirms that Parties and Governments should determine their own funding priorities for national biodiversity activities based on the Strategic Plan, and national biodiversity strategies and action plans, and taking into account relevant elements of the Convention's programmes of work;
5.Decides to conduct an in-depth review of financial resources and the financial mechanism at its ninth meeting. This review should:
(a)Build on past reviews;
(b)Focus on what action has been taken or needs to be taken to address identified obstacles;
(c)Examine how financial resources from the financial mechanism and official development assistance are being used to address national biodiversity priorities;
(d)Identify opportunities available to Parties from official development assistance for the implementation of the Convention, including through mainstreaming biological diversity;
(e)Explore options on how the financial mechanism can enhance cooperation between the three Rio conventions, bearing in mind Parties' priorities and each convention's scope;
(f)Develop a strategy for resource mobilization in support of implementation activities based on the results of the in-depth review;
6.Adopts an updated list of developed country Parties and other Parties that voluntarily assume the obligations of the developed country Parties, by updating the list that was adopted in
decision I/2;
7.Considers clarifying the eligibility criteria for access to and utilization of financial resources through the financial mechanism contained in
decision I/2, annex I, by providing a list of developing country Parties;
8.Takes note of, and encourages the Executive Secretary to regularly update, the publications concerning financial resources and the financial mechanism that have been made available by the Executive Secretary in response to requests by the Conference of the Parties;
9.Welcomes the decision of the Working Party on Statistics (WP-STAT) of the Development Assistance Committee of the Organisation for Economic Co-operation and Development (OECD/DAC), at its meeting on 10-11 June 2004, to collect data through the Creditor Reporting System on aid targeting the objectives of the Rio conventions, and invites the Executive Secretary and the Organisation for Economic Co-operation and Development to further collaborate on data collection and to provide regular reports on the status and trends of biodiversity finance to the Conference of the Parties;
10.Requests the Executive Secretary to explore opportunities for collaborating with the DAC Network on Environment and Development Co-operation of the Organisation for Economic Co-operation and Development, with a view to participating in its activities and promoting consideration of biodiversity-related financial issues through the DAC Network;
11.Encourages the Executive Secretary to enter into memoranda of cooperation with financial institutions and international development agencies, upon their request, in order to ensure the regular flow of information on the implementation of, and to inform, decisions of the Conference of the Parties regarding financial resources related to biological diversity;
12.Urges the Global Environment Facility to further simplify the procedures for disbursement of resources so as to take into consideration the special conditions within developing country Parties, in particular the least developed countries and the small island developing States among them, as referred to in paragraphs 5 and 6 of Article 20;
13.Invites Parties to give biodiversity a prominent place in their development planning systems, including in poverty reduction strategy papers, thus maximizing opportunities presented in official development assistance;
14.Requests the Executive Secretary to develop proposals for the global initiative on banking, business and biodiversity, based on decisions
VI/16, paragraph 11 (d), and
VII/21, paragraph 8, taking into account also the
recommendation 1/7, on private sector engagement, of the Ad Hoc Open-ended Working Group on the Review of Implementation of the Convention;
15.Decides that financial resources and the financial mechanism will continue to be a permanent agenda item for meetings of the Conference of the Parties;
2.Requests the Executive Secretary to:
(a)Develop, for consideration at the eighth meeting of the Conference of the Parties, a work plan, including provisions for an analysis of the relevant information in the third national reports and other submissions by Parties and organizations, to prepare for the in-depth consideration of financial resources and financial mechanisms at the ninth meeting of the Conference of the Parties;
(b)Collaborate with the Global Environment Facility in a dialogue on ways to more effectively formulate and implement the guidance to the financial mechanism and explore opportunities for streamlining such guidance, taking into account the framework for goals and targets included in
decision VII/30 as well as indicators for assessing progress toward the achievement of the 2010 target, and report the results of this dialogue to the eighth meeting of the Conference of the Parties;
(c)Revise if necessary, after consultation with Parties concerned, the list that was adopted by
decision I/2 of developed country Parties and other Parties which voluntarily assume the obligations of the developed country Parties, for consideration by the Conference of the Parties at its eighth meeting;
(d)Develop ways and means of improving the process of review of the financial mechanism for consideration at the eighth meeting of the Conference of the Parties;
(e)Invite the Chairman of the Global Environment Facility to provide details of the Resource Allocation Framework adopted by the special meeting of the Council of the Global Environment Facility on 1 September 2005 and its implications and potential impact on the implementation of the Convention at the eighth meeting of the Conference of the Parties.
