The ambitious goal to phase out nature-harming subsidies by 2025 has fallen drastically short. A significant majority of nations failed to fully identify the financial incentives that damage biodiversity by the stated deadline. The report states: “Available evidence suggests that the 2025 milestone for identifying incentives, including subsidies, harmful for biodiversity, was not achieved. Key challenges include identifying, quantifying and reforming harmful subsidies.” As a result, at this year’s biodiversity COP, happening in Armenia in October, harmful subsidies are expected to be a key topic of discussion.