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This briefing document, prepared by the IAI Directorate, presents the report of the 31st meeting of the Conference of the Parties (CoP-31) held on 21-22 June 2023 in Panama City, Panama. The document outlines the administrative, financial, and scientific decisions made during the meeting, including the approval of budgets, the election of leadership, and the establishment of new initiatives such as the Science Diplomacy Center and an Indigenous Peoples and Local Communities Advisory Committee.