COP17 on biodiversity: 'Harmful subsidies' to nature take center stage at negotiations

At COP17 in Yerevan, the focus was on "harmful subsidies" that contribute to environmental degradation. The Global Biodiversity Framework aims to eliminate these subsidies, targeting a reduction of at least $500 billion annually by 2030. Armenia's Environment Minister Hambardzum Matevosyan emphasized this goal during a reception, introducing mechanisms for accountability and reform implementation.