Forest – Photo by Ross
(GLASGOW) – Commission president Ursula von der Leyen announced a EUR 1 billion contribution to the Global Forests Finance Pledge at the 26th UN Climate Change Conference of the Parties (COP26) in Glasgow.
The 5-year support package from the EU budget will help partner countries to protect, restore and sustainably manage forests worldwide and deliver on the Paris Agreement.
“The EU’s contribution pledged today to sustainably manage, restore and protect forests will support sustainable growth and jobs, climate mitigation and adaptation, as well as preservation of biodiversity in our partner countries,” said EC Commissioner Jutta Urpilainen: “The European Union will work in partnerships with governments, civil society, indigenous peoples and private actors, in a multilateral approach, to achieve the Sustainable Development Goals and to put people and planet first.”
This pledge is the European Union’s contribution to the Global Forests pledge made at COP26 by the international community.
As a follow-up, the Commission says the EU will work with partner countries to conserve, restore and ensure the sustainable management of forests in a comprehensive and integrated way.
From the 1 billion pledged, 250 million will go to the Congo Basin, covering eight countries (Cameroon, Central African Republic, Democratic Republic of the Congo, Republic of the Congo, Equatorial Guinea, Gabon, Burundi and Rwanda) to protect the world’s second largest tropical rainforest region while improving livelihoods for its populations.
More than 1.6 billion people all over the world depend on forests for food, medicine and livelihoods. Forests preserve soil and support 80% of the world’s biodiversity, with the biggest forest basins outside the EU’s territory.
Because they produce oxygen and purify the air, forests are also essential for mitigating climate change as they absorb up to 30% of Green House Gas Emissions. They are equally important for climate adaptation. Greenhouse gas emissions linked to deforestation are the second biggest cause of climate change. Between 1990 and 2016, the world has been losing forest cover at a rate equivalent to about 800 football pitches an hour.
26th UN Climate Change Conference of the Parties (COP26)
EU Forest Law Enforcement, Governance and Trade (FLEGT) Action Plan
