CEE Bankwatch Network
Magda Wiejak
As Conference of the Parties to the UN Convention on Biological Diversity (COP17) came to an end, one can’t help but wonder – How much of a real impact on nature will we actually see after yet another COP full of pledges and international commitments?
Over the last two weeks, our campaigners were in Yerevan, Armenia, to bring attention to some of the pressing cases we work on, ranging from ecological networks to circularity and preventing harmful subsidies. Ironically, a week before the opening of COP17, Armenia’s authorities greenlighted the Amulsar gold mine– a threat to biodiversity of the region, including endangered wildlife species, rivers and the Lake Sevan. Biodiversity, despite internal and external commitments, seems to be an obstacle to be removed in order for the mining project to profit.
That’s why, during COP17, together with local civil society groups, we advocated for the Armenian government and international financial institutions supporting the mine to halt the construction and respect international commitments.
Amulsar is not the only irony there is after this year’s COP17. After two weeks of intense discussions, the ‘Yerevan Pathway’ was adopted, a wish list for countries on how to speed up nature protection, but there are no binding obligations. It is then difficult to see how the 2030 targets to annually mobilise USD 200 billion for biodiversity, and cut down USD 500 billion in harmful subsidies, will be reached in time.
A disappointing angle of the conference was also side events – most of which focused on false solutions for biodiversity protection – offsets, credits and other mechanisms treating nature as an asset to be traded when the deal is profitable enough. That’s why our advocacy focused also on ecological networks (based on the Montenegro case study), and ‘no-go’ areas that protect nature from harmful development.
Time will show if this year’s agreements will be respected and nature will become a priority for governments and international financial institutions. Though previous events of that sort showed rather big promises and little progress.
Without collective action and mobilisation of public funds, lengthy discussions and formal agreements won’t bring change. We will keep advocating for ambitious and realistic nature protection and restoration measures, as long as there’s a threat to unique habitats and species.
You can read more about case studies we brought forward during COP17 on our dedicated website.
Photo by CEE Bankwatch Network
November 05, 2026 at 13:01