The UK has led a series of financial announcements on deforestation and conversion on the Amazon and other Brazilian biomes. Investments are structured in current initiatives such as 300 300 million for the International Climate Finance (ICF) and 200 200 million for the LEAF Alliance.
The announcements are part of COP26, an unprecedented package of economic and political commitments to end deforestation around the world, signed by more than 100 world leaders. This amount is £ 8.75 billion (US $ 12 billion) in public funds and £ 5.3 billion (US $ 7.2 billion) in private investment.
Forests absorb about a third of the global CO2 released each year by the burning of fossil fuels, but we lose them at a dangerous rate. The area of forest that measures 27 football fields is lost every minute.
“This fundraiser is an unprecedented endeavor. Together with the commitment of world leaders, it represents a tremendous success involving companies, financial institutions and multidisciplinary development banks. Forests play an important role in supporting communities, livelihoods and food production, and in regulating the planet’s climate. Our future depends on this commitment.Says Peter Wilson, the British ambassador to Brazil.
Learn more about the various anti-deforestation funding sources presented at the conference:
Funding announced by the UK
– ICF: The UK expects to invest up to £ 300 million to stop deforestation, conserve biodiversity and enable green growth in the Amazon region of Latin America. This is part of the UK’s commitment to invest 3 3 billion in climate funding to protect and restore nature.
– LEAF: The UK has announced up to 200 million for the LEAF Alliance, a multi-government initiative supported by dozens of large global corporations that already support proposals and projects in at least eight Brazilian states.
Private Initiative Funding
– IFACC: Innovative funding for Amazon, Cerrado and Chacho Announces $ 3 billion to accelerate soybean and livestock production from deforestation and change in South America.
– NCIA: The Coalition for Sustainable Markets Initiative for Natural Capital Investments, founded by Prince HRH of Wales, announces 12 new members and aims to raise $ 10 billion in private capital by 2022.
– The US government will announce a new Forest Investors Club, which will provide a platform for building a positive investment system for forests and ensuring partnerships among global investors.
– In addition, the newly mobilized private sector funding will be at least 5. 5.3 billion ($ 7.2 billion).
– The CEOs of more than 30 financial institutions with global assets of more than $ 8.7 trillion – including Aviva, Schroeder and Axa – have pledged to eliminate investment in deforestation-related activities.
Other government investments
– Governments will sign a new Declaration on Forests, Agriculture and Commodity Trade (FACT), which represents 75% of the global trade in forest threats such as palm oil, cocoa and soy. Twenty-eight governments, including Brazil, are engaged in common measures to provide sustainable trade, support family farmers and reduce pressure on forests, including improving the transparency of supply chains.
Source: Advice
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