GLASGOW, Nov 2 — More than 100 global leaders late yesterday pledged to halt and reverse deforestation and land degradation by the end of the decade, underpinned by US$19 billion in public and private funds to invest in protecting and restoring forests.
“We will have a chance to end humanity’s long history as nature’s conqueror, and instead become its custodian,” said British leader Boris Johnson, calling it an unprecedented agreement. Yet this natural climate buffer is rapidly disappearing. The world lost 258,000 square kilometres of forest in 2020, according to WRI’s deforestation tracking initiative Global Forest Watch. That is an area larger than the United Kingdom.
At least a further £5.3 billion would be provided by more than 30 private sector investors including Aviva, Schroders and AXA. Environmentalists say that indigenous communities are the best protectors of the forest, often against violent encroachment of loggers and land grabbers.
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