Over 100 world leaders agreed to sign the “Action on forests and land use” declaration at COP26 in Glasgow.
The countries vowed to halt deforestation and land degradation by the end of 2030 and allocate $19 billion for protecting the forest. The joint declaration has been endorsed by Brazil, Russia, Indonesia, and the Democratic Republic of Congo, which collectively has 85 percent of the world’s forests.
11 countries will invest $1,5 billion to protect the forest area of the Congo river basin where the second-largest tropical forest grows. In addition, more than 30 financial agencies agreed to divest logging-related projects.
Under the agreement, 12 countries, including the UK, have promised to fund $12 billion from 2021 to 2025 to help developing countries, including in efforts to restore degraded land and tackle wildfires.
“Today, at COP26, leaders have signed a landmark agreement to protect and restore the earth's forests. We will have a chance to end humanity’s long history as nature’s conqueror, and instead become its custodian,” said the British Premier Boris Johnson,
Johnson also added that it was “an unprecedented agreement.”
On November 1 The UN Secretary-General
The UK hosts the UN Climate Change Conference in Glasgow which began on October 31 and will be lasting until November 12, 2021. It’s expected that participants from more than 200 countries will take part in the summit.