In the first major agreement made at COP26 in Glasgow more than 100 world leaders – representing countries that support 85% of the world’s forests – have sounded a welcome death knell for deforestation.
In a bid to save the lungs of the planet $19.2 billion in public and private funding will be mobilised to deliver on the promise of the Glasgow Leaders’ Declaration on Forest and Land Use. Canada,Russia, Brazil, China, Indonesia, the Democratic Republic of the Congo, and Colombia are among the nations to have endorsed it; who together countries support 85% of the world’s forests
“Never before have so many leaders, from all regions, representing all types of forests, joined forces in this way and Colombia is committed to playing its part,” said Iván Duque, President of Colombia. “We will enshrine in law a commitment to net-zero deforestation by 2030 – one of the most ambitious commitments in Latin America – and to protecting 30% of our land and ocean resources by 2030.”
The Declaration was given an early boost after CEO from financial institutions responsible for $8.7 trillion of global assets pledged to end any investments linked to deforestation.