COP26: Brazil supports int’l declaration on forest protection
The Brazilian government on Tuesday (Nov. 2) expressed support for the international declaration drafted by world leaders on the preservation of forests and the reduction of deforestation and soil degradation by 2030. The announcement comes as part of an agreement signed at the United Nations Climate Summit COP26, in Glasgow, Scotland.
As it stands today, nearly a fourth (23%) of the world’s greenhouse effect gas emissions stems from agriculture and the wood industry, as per data from the Environment Ministry. Combined, the more than 100 countries that have signed the historic commitment—like Russia, the US, China, Australia, and France—add up to more than 85 percent of the world’s forests, an area of over 21 million km².
The announcement of the Glasgow Leaders’ Declaration on Forests and Land Use was made during an event called by UK Prime Minister Boris Johnson, attended by US President Joe Biden, and EU Commission President Ursula von der Leyen, and includes approximately $19 billion in public and private financing.
A portion of the funds will stem from 12 countries, including the US, the UK, Norway, Germany, South Korea, EU members, Canada, and Japan, reaching an estimated $11.9 billion by 2025. The goal is to support initiatives in developing countries, like the restoration of degraded territories, efforts to tackle wildfires, and support for the rights of indigenous people.
The private sector, in turn—represented at COP26 by CEOs from over 30 financial institutions—will account for over $7.2 billion in financing. Of this total, some $3 billion should be put towards the initiative Innovative Finance for the Amazon, Cerrado, and Chaco (IFACC), aimed at promoting the production of soybeans and cattle in Latin America with no deforestation. Institute leaders are also expected to commit to no longer investing in activities linked to deforestation.
The declaration
The joint declaration will be adopted by over 100 countries where 85 percent of the world’s forests are located—among them Canada’s boreal forest, the Amazon forest, and the tropical forest of the Congo basin. The purpose of the initiative is to limit global warming to 1.5 degrees Celsius above average pre-industrial values.
Signatory nations also restated their commitment with the Paris Agreement and other international agreements in the environmental arena. They further acknowledged that, to meet the sustainable development goals, more efforts will be required in the integration between production, consumption, infrastructure, trade, finances, and investments.
The declaration also mentions the support for rural producers, indigenous people, and communities that rely on these biomes for survival—a population estimated at approximately 1.6 billion people worldwide.
