COP16 reaffirmed the goal to protect 30% of the world’s land and seas by 2030. However, the first official progress report which was released at COP16 also revealed significant gaps, showing that only 17% of land and 8% of marine areas are currently protected. Financial shortfalls persist, with a $700 billion annual funding gap for biodiversity conservation. Indigenous communities' leadership was acknowledged, but implementing promises and addressing unresolved political conflicts remain crucial as the summit’s second part approaches.