News | 05.11.2021
On the second day of COP26, about 100 countries, including France, committed to stop deforestation and restore forests by 2030. The signatories of this agreement represent 85% of the world's forests.
Twelve countries have committed to mobilizing $12 billion in public funds by 2025, to which will be added $7.2 billion in private investments. 1.5 billion dollars will be invested for the Congo Basin, with the creation of a fund dedicated to the preservation of the world's second largest tropical forest.
The leaders of the signatory countries pledged to jointly strengthen their efforts to conserve and accelerate the restoration of forests and forest ecosystems, as well as to facilitate sustainable trade and development policies at the international and national levels.
The agreement also highlights the empowerment of local communities, including indigenous peoples, who must be taken into account in the sustainable use of forest resources. In addition, it aims to implement and revise agricultural policies and programs to reduce hunger and develop sources of income for these populations.
Finance is also a key element of this commitment: signatory countries have pledged to facilitate the alignment of financial flows with international goals to reverse loss and degradation, while ensuring policies to accelerate the transition to a greener economy. Thirty financial institutions representing more than $8.7 trillion in global assets have joined this commitment and affirmed their commitment to eliminate investment in deforestation-related activities.
In the face of the climate emergency, we call for concrete action and hope that this commitment will be successful by 2030 and that the forests of the Congo Basin will benefit in a way that reflects their global importance.