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.

This project supports the European Commission (EC) in enhancing the integration of environmental, biodiversity, and climate goals in the EU budget post-2027 Multiannual Financial Framework (MFF). It provides insights and concrete recommendations for effective, efficient, coherent, and measurable external funding strategies, ensuring that these priorities are mainstreamed throughout budgetary processes to maximize their policy impact. The project's results will feed into the EC's proposal for the post-2027 MFF, expected by mid-2025.