Since its inception in 1992, the Convention on Biological Diversity (CBD) has taken thousands of decisions to implement its three objectives related to the conservation and sustainable use of biodiversity, and the equitable sharing of the benefits of biodiversity use. But progress toward these goals is halting, most expressly in Parties’ failures to meet the Aichi Biodiversity Targets.2 Crucial Articles of the CBD, such as 10(c), which states that Parties should integrate conservation and sustainable use into national decision-making, encourage customary use of biological resources, and support local populations to develop and implement restoration of degraded areas, remain woefully underdeveloped. These shortcomings are evident in the accelerating rate of biodiversity loss documented in the 2019 IPBES (Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services) Global Assessment, which demonstrated “good progress” on only four out of 20 of the Aichi targets and estimated that current trends in the loss of biodiversity and ecosystem services would undermine progress on 80% of the Sustainable Development Goals.3 That report also acknowledged the need for “transformative change” in addressing the ongoing biodiversity crisis. Ideally, the post-2020 global biodiversity framework negotiations will conclude with decisions and plans that can address these failures. But doing so means reckoning with what’s gone wrong, including with financial resources.