More than 100 world leaders, representing more than 85% of the world’s forests, have pledged to end and reverse deforestation and land degradation by 2030, according to a statement from the British government, in what will be the first agreement. Climate talks in Glasgow.
Participating countries include Canada, Russia, Brazil, Colombia, Indonesia, and the Democratic Republic of the Congo, all of which have large areas of forest. Brazil in particular has been criticized for allowing increased deforestation of the Amazon in recent years. The United States and China will also be part of the agreement.
The agreement is a consequence of climate, as forests, when they are cut down or degraded, emit carbon dioxide (CO2) into the atmosphere, which accounts for about 11% of the world’s total carbon dioxide emissions.
Leaders will make the announcement during the COP26 session on forests and will allocate £8.75 billion (US$12 billion) in public funds for protection and restoration, along with £5.3 billion (US$7.2 billion) of private investment. The CEOs of more than a dozen financial institutions, including Aviva, Schroders and Axa, are also pledging to end investment in activities that lead to deforestation.
The deal is likely to provide a morale boost at COP26, which got off to a shaky start after the G20 leaders’ summit in Rome over the weekend failed to reach agreement on tough new climate commitments, particularly on when to end coal use. .
British Prime Minister Boris Johnson announced that more than 10 countries, the Bezos Earth Trust and the European Union have signed the Congo Basin Commitment, which will mobilize more than 1.5 billion US dollars to protect forests, peatlands and other reserves. Carbon slams.
“I am pleased to announce at this summit that the world is rallying around your efforts … with at least $1.5 billion over the next five years to help protect … the precious ecosystems of Central Africa,” Johnson said. Main business Republic of the Congo and Gabon.
Johnson added that the money was part of a new global forest financing pledge of more than $12 billion, which he said represented “the largest collective commitment of public funds to forests and climate action in history.”
Earlier, the British government said more than 100 world leaders representing more than 85% of the planet’s forests will pledge on Tuesday to end and reverse deforestation and land degradation by 2030, the first substantive agreement announced at COP26 climate talks.
“Let’s end this great global chainsaw carnage by making conservation do what we know it can do, and that provides jobs and sustainable long-term growth as well. Today is not only a vital victory in the struggle to contain rising global temperatures, it is also a great economic opportunity, This is the sustainable, long-term path to ending the loss of our forests, protecting our sacred biodiversity and helping keep the 1.5-degree ambition alive by the end of the century, Johnson said.