COP16, held in Cali, Colombia, marked an important moment in the global effort to implement the Global Biodiversity Framework (GBF). Two years after its adoption, COP16 underscored the need for decisive action, particularly in the realm of biodiversity finance. Negotiations under the banner of "Peace with Nature" centered on closing the $200 billion annual biodiversity financing gap, with mixed outcomes.

The project aims to provide the European Commission with information on how to best use the EU budget in the post-2027 MFF to achieve the ambitious environmental and climate objectives in an effective and efficient way. The results of this project will feed into the political processes that will shape the post-2027 MFF.