The conservation and sustainable management of forest ecosystems has a regional dimension in Central Africa. Almost all the countries of the sub-region, gathered in the Central African Forest Commission (COMIFAC), have signed the Glasgow Declaration on Forests and Land Use. This was on November 2, 2021 in Glasgow, Scotland, during the 26th United Nations Climate Conference (COP26). The declaration, signed by 90 other countries around the world, is accompanied by a long list of commitments from public and private sector actors to combat climate change, curb biodiversity destruction and hunger, and protect the rights of indigenous peoples.
The text also notes the empowerment of local communities, including indigenous peoples, negatively affected by logging and forest degradation. The declaration also aims to implement and redesign agricultural policies and programs to reduce hunger and protect the environment.
The role of financial institutions
Finance is also a key part of the pledge, with leaders promising to facilitate the alignment of financial flows with international goals to reverse loss and degradation, while ensuring policies to accelerate the transition to a greener economy.
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According to the United Nations, the last decade has seen about 40 times more funds flowing to destructive land use practices than to forest protection, conservation and sustainable agriculture. That’s why the Glasgow Declaration on Forests and Land Use has also been signed by more than 30 financial institutions covering more than $8.7 trillion in global assets under management. The goal is to reverse this situation, moving away from portfolios that invest in agricultural commodity supply chains at high risk of deforestation and towards sustainable production.
For the British Prime Minister, this initiative also fits in with the new global forest finance pledge of more than $12 billion. “The largest collective commitments of public funds for climate action in history. Let’s stop this great global chainsaw massacre,” said Boris Johnson.
Boris Ngounou