Cabinet Office
Summary
- The Forests and Climate Leaders Partnership was launched on behalf of a group of ambitious countries to drive delivery of the 2030 target to halt and reverse forest loss and land degradation by 2030.
- 16 governments made statements on how they will work towards the 2030 goal. These included Colombias announcement of USD $200 million annually for the next two decades to save the Amazon, Kenyas plans to restore 10.5 million hectares of degraded forests and rangelands, Ecuadors plans to increase forested land by 1.4 million hectares by the end of 2023 and Germanys increase of international climate finance for forests by 1 billion EUR.
- Leaders demonstrated transparency to prior public finance commitments. The Global Forest Finance Pledge released a report outlining that USD $2.67 billion was contributed to forest-related programmes in developing countries in 2021, 22% of the 5-year commitment made at COP26.
- Private sector leaders including SouthBridge Investments, &Green and Volkswagen made commitments to ensure their operations align with the 2030 goal to halt and reverse forest loss.
At COP26, over 140 world leaders committed to halt and reverse forest loss and land degradation by 2030 while delivering sustainable development and promoting an inclusive rural transformation in the Glasgow Leaders Declaration on Forests and Land Use (GLD). This was backed by a financial package of $19.2 billion from public donors, philanthropy and private investors.
Demonstrating delivery on these commitments is crucial to meet the 2030 GLD ambition. At COP27, leaders from governments, companies, the finance sector, and Indigenous Peoples came together at the Forests and Climate Leaders Summit to focus on delivery, to share best practice and scale action aligned with the GLD. Headline announcements included:
Political Leadership
The Forests and Climate Leaders Partnership (FCLP) was launched at the Summit on behalf of 26 Governments and the European Commission who together represent a third of the worlds forests and nearly 60% of the worlds GDP. These leaders are committed to maintaining political focus on the objectives of the GLD, to inspiring and fostering ambition and positive action through providing annual high-level political platforms, to being accountable for delivery of pledges made, and to supporting each other and scaling action through collective initiatives. The FCLP will provide a space for governments to innovate, and problem solve together to drive progress towards the 2030 target, and to take stock of current progress. Special Presidential Envoy for Climate, John Kerry announced that the FCLP will initially be co-chaired by the United States of America and Ghana.
The Summit afforded the opportunity for government, business, civil society and Indigenous community leaders to set out how they are turning the GLD into practical action. This included 14 heads of state or government who spoke and a further 3 heads of delegation who represented their respective governments. For example, President Akufo-Addo of Ghana shared that Ghanas Cocoa Forest Programme recorded its first emissions reductions which account for 972,456 tonnes of C02 equivalent and generated a result-based carbon payment of USD $4.8 million, and Ecuador announced that it will increase forested land by 1.4 million hectares by the end of 2023.
Public Finance
Delivery and Scaling
At COP26,12 governments collectively committed USD $12 billion for international forests over 5 years through the Global Forest Finance Pledge. At the Summit, those governments collectively reported on progress (pdf, 287 KB). In calendar year 2021, USD $2.67 billion was contributed to forest-related programmes in developing countries. This equates to 22% of the original pledge and means that donors are on track to deliver by 2025. For example, the UK Prime Minister announced 65 million for the Climate Investment Funds Nature, People and Climate Programme (NPC). This funding will help to protect forests while supporting the livelihoods of the people who depend on them.
In addition, governments demonstrated that public finance will be scaled to meet the 2030 target. Colombias President Gustavo Petro announced USD $200 million annually for the next two decades to save the Amazon, the worlds largest rainforest. Chancellor Scholz also announced that Germany will double its international climate finance for forests from 1 billion EUR to 2 billion EUR through to 2025.
The Congo Basin
The Congo Basin is the second largest rainforest in the world and is crucial for the supply of rainfall to the African continent. Heads of State from the Congo Basin addressed the Summit and emphasised their national ambition, their record of delivery and the need for greater support for the region, including:
- President Ali Bongo reiterated Gabons intent to trade REDD+ credits as a means of increasing the value derived from their forests which cover 88% of the country.
- President Sassou highlighted that the Republic of Congo has created 45,000 hectares of forest since 1970 and is aiming to create 1 million hectares of forest cover through its national programme of reforestation but needs international support to meet these commitments.
- Prime Minister Lukonde highlighted the importance of the Democratic Republic of Congos forests and peatlands to global carbon sequestration efforts.
At COP26, governments and philanthropy collectively pledged USD $1.5 billion to the Congo Basin over 5 years. At the Summit, they reported (pdf, 889 KB) that they had provided USD $508 million support for forests and people in the Congo Basin. The UK Prime Minister also announced delivery of support for forests through development of a new 90 million programme in the Congo Basin.
In addition, Chancellor Scholz of Germany announced that the Central African Forest Initiative (CAFI) is seeking to mobilise private finance at scale through funding the design of a series of Forest Performance Bonds in Central Africa with the potential to secure co-investment from the Green Climate Fund (GCF) amongst others. The bond would invest in forest positive businesses across the region.
Finally, the &Green fund announced that they are committing up to USD $10.6 million in addition to USD $32 million of CAFI funding to invest in sustainable agriculture in the Congo Basin.
Indigenous Peoples and Local Communities
At COP26, governments and philanthropies committed USD $1.7 billion through the Indigenous People and Local Communities Forest Tenure Pledge. At the Summit, the Prime Minister of Norway reported that USD $321 million of finance had been disbursed by donors in 2021 before leading a minutes silence to pay respect to environmental defenders that had sacrificed their lives in order to protect us all. Representatives from the Global Alliance for Territorial Communities - Marleine Nguie and Levi Sucre - called for the importance of indigenous peoples to be reflected by increased action on the ground.
Restoration in Africa
At the One Planet Summit in April 2021, financial institutions committed USD $19.6 billion to restore degraded land and forests in Africa, primarily through the Great Green Wall (GGW) initiative. Alongside AFR100, the African Forest Landscape Restoration Initiative, GGW initiative is driving investment to restore over 100 million hectares of degraded in land in Africa by 2030. The conservation, management and restoration of land at this scale has the potential to sequester 3 GtCO2 equivalent.
At the Summit, Preside