On July 1, in Seville, within the framework of the 4th International Conference on Financing for Development, Deputy Minister of Armenia Robert Abisoghomonyan participated and delivered remarks at the side event entitled “Biodiversity finance: the missing link for addressing non-economic loss and damage”, initiated by Armenia and co-organized by Colombia and Nepal.

President of Armenia Vahagn Khachaturyan delivered opening remarks during the event. The event also featured keynote remarks by Laura Sarabia, the Minister of Foreign Affairs of Colombia and COP16 President.

In his remarks, Deputy Minister of Armenia Robert Abisoghomonyan emphasized the necessity of enhancing the effectiveness of existing financial mechanisms, ensuring their complementarity and access to financial resources. He emphasized the importance of concerted efforts in finance improvement to develop innovative and inclusive financial systems aligned with biodiversity objectives.

Touching upon the 17th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP17) to be held in Yerevan in 2026, the Deputy Minister emphasized the importance of the first global review of the Kunming-Montreal Global Biodiversity Framework commitment in boosting the profile of biodiversity globally, enhancing ambition and drive action.

In conclusion, the Deputy Minister expressed hope that the event will contribute to shaping the financing priorities of COP17.