More than 100 countries, including Brazil and Russia, pledge to end deforestation by 2030
More than 100 world leaders will pledge on Tuesday to end deforestation by 2030.
Signatories to the pledge are home to the vast majority (85%) of the world’s forests and include Brazil and Russia, marking an early coup for Boris Johnson at the COP26 climate summit.
The initiative will be supported by £ 14 billion in public and private funding to help developing countries restore degraded land, fight forest fires and support indigenous forest communities.
Johnson will say the deal is “unprecedented” and would create “a chance to end humanity’s long history as conqueror of nature,” as forests absorb about a third of global carbon emissions from burning fossil fuels, but are being lost at an alarming rate.
But 23 percent of global emissions come from land use activities such as logging, deforestation and agriculture, and a forest area the size of 27 football fields is currently being lost every minute.
The deal is the first major sign of progress at the Glasgow summit where Mr Johnson urges world leaders to take action on “coal, money, cars and trees”.
Countries ranging from the forests of northern Canada and Russia to the tropical rainforests of Brazil, Colombia, Indonesia and the Democratic Republic of the Congo will endorse the Glasgow leaders’ declaration on the use of forests and lands.
At a COP26 session on the issue on Tuesday, the Prime Minister is expected to say: “Leaders have signed a historic agreement to protect and restore the world’s forests.
“These great teeming ecosystems – these cathedrals of nature – are the lungs of our planet.
“Forests support communities, livelihoods and food supply, and absorb the carbon that we release into the atmosphere. They are essential to our very survival.
“With today’s unprecedented commitments, we will have a chance to end humanity’s long history as conqueror of nature and instead become its steward. “
The pledge will be backed by £ 8.75bn of public funding from 12 countries, including the UK, which will provide £ 1.5bn of the £ 12.6bn already committed in spending on help with climate finance.
The UK will also contribute £ 200m alongside 11 other donors as part of a new £ 1.1bn fund to protect the Congo Basin, home to the second largest rainforest in the world. world but which is threatened by logging, mining and agriculture.
This will be backed by £ 5.3bn of private sector funding, while more than 30 financial institutions with more than £ 6.3bn of global assets, including Aviva, Schroders and Axa, will pledge to eliminate investments in deforestation-related activities.
Governments representing three quarters of world trade in major commodities that can threaten forests, such as palm oil, cocoa and soybeans, will also engage in a common set of actions to ensure sustainable trade. and reducing pressure on forests, including supporting smallholder farmers and improving transparency in supply chains.