In the two years since COP16 in Cali, Colombia, the finance sector has made significant progress in building the foundations for nature finance. Yet financial flows remain fundamentally misaligned with global biodiversity goals. UNEP FI’s 2026 report card finds that stronger action by financial institutions, alongside clearer government policies and regulations, is needed to meet the 2030 targets of the Kunming-Montreal Global Biodiversity Framework. 

Published ahead of COP17 in Yerevan, Armenia, the report coincides with an important milestone for the Framework: its first Global Review of Collective Progress. It contributes a financial-sector perspective to this global stocktake, examining both the progress made in developing the tools and frameworks for nature finance and the gaps that remain in aligning financial flows with biodiversity goals. 

The findings point to a need for action on both sides. Financial institutions must redouble their efforts to mobilise finance, manage nature-related risks and improve data and reporting. Governments must provide greater policy and legal certainty, reform incentives that harm nature and use public finance to help unlock private investment.