On 2 November at the COP26 World Leaders Summit ‘Action on Forests and Land Use’, the leaders of over 140 nations, accounting for more than 90% of the world’s forests, issued the Glasgow Leaders’ Declaration on Forests and Land Use, committing to work together to halt and reverse forest loss and land degradation by 2030.

The declaration was followed by funding pledges. Twelve donor countries launched the Global Forest Finance Pledge, through which they committed to collectively provide US$12 billion for forest-related climate finance between 2021-2025. The aim is to incentivise results and support action in Official Development Assistance-eligible forest countries that show increased ambition and take concrete steps towards ending deforestation by no later than 2030. 

European Commission President Ursula von der Leyen announced a €1 billion contribution from the European Union to the Global Forest Finance Pledge to support partner countries in protecting, restoring and sustainably managing forests worldwide and to deliver on the Paris Agreement. 

Additionally, a group of 12 donor countries and organisations pledged at least $1.5 billion (€1.3 billion) to protect the forests of the Congo Basin; another 14 donors committed at least $1.7 billion (€1.5 billion) to advance Indigenous Peoples’ and local communities’ forest tenure rights and support their role as guardians of forests and nature; and around $7.2 billion (€6.4 billion) of private sector funding was mobilised.

Most importantly in looking forward to curbing climate change, biodiversity destruction and hunger, is that significant funding commitments went hand in hand with promises by nations, companies and investors on new ways of doing business and developing sustainable agriculture and land use.

Important to note however is the fact similar commitments were made in the past that did not materialise, so that the EU will now have to work closely with the partner countries to ensure these new commitments on forests and land use are actually followed upon.

For more information

• Glasgow Leaders’ Declaration on Forests and Land Use
• Global Forest Finance Pledge
• Speech by President von der Leyen on Forests and Land Use (europa.eu)
• Watch video of leaders' interventions at the Forest and Land Use event