Suggestion 1: General provision for subsequent development of a mechanism
Provide for the establishment of a mechanism for the provision of financial resources to developing country Parties on grant or concessional basis.
The agreement can provide that conditions to access this mechanism and financial support will be defined at a later stage by the Parties through its decision making body.
CBD Art 21 (Financial mechanism)
Plant Treaty Art 18 (Financial resources)
Nagoya Protocol Art 25 (Financial Mechanism and Resources)
Suggestion 2: Obligation to contribute
States commit to allocate a specified amount of financial resources to support implementation of the agreement, including through:
CBD Art 20 (Financial resources)
Suggestion 3: Global fund
Establish a global fund, such as an ABNJ multilateral trust fund, for receiving and utilizing financial resources. This fund could support projects and programmes related to protection and conservation, benefit-sharing, capacity building, and technology transfer.
Plant Treaty Art 19.3(f) (financial resources)
UNFSA Art 26 (funds for developing countries to implement agreement)
Suggestion 4: Funding from fees for activities in ABNJ
Fees or royalties from operations undertaken in ABNJ could be used to support implementation of the convention. These fees could be managed through a global fund or other mechanism set up by the agreement.
UNCLOS Art 82 (payments re continental shelf beyond 200 miles)
UNCLOS Art 150(d) (participation in revenues)
Suggestion 5: Designate existing funding body
Designate an existing institution (e.g. Global Environment Facility (GEF), Intergovernmental Oceanographic Commission of UNESCO) to provide framework for funding.