Russia: $ 19 billion investment will cost declaration on forests and land signed in Glasgow

Published Nov 6, 2021

Tridge summary

At the UN Climate Change Conference (COP26) in Glasgow, a pact was signed by over 100 countries, representing 86% of the world's forests, to put an end to deforestation. The Glasgow Declaration on Forests and Land, backed by $19 billion in funding, aims for forest conservation and sustainable agriculture. Despite the support from financial institutions, Greenpeace and other organizations insist that the plan does not sufficiently address the demand for commodities linked to deforestation. The conference also spotlighted the need to reduce methane emissions, with the US and EU committing to a 30% reduction by 2030. The Biden administration's efforts to cut US methane emissions include regulations for the oil and gas industry and voluntary measures for agriculture, but critics argue that these measures do not sufficiently regulate methane emissions from the agricultural sector, particularly meat and dairy production.

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Original content

During the UN Climate Change Conference (COP26) in Glasgow, leaders from more than 100 countries signed a pact to end massive deforestation. The signatory countries include states that account for about 86% of the world's forests, including Brazil, Indonesia, the Democratic Republic of the Congo and the United States. The parties have pledged to conserve forest ecosystems and accelerate recovery, stimulate sustainable agriculture, reports Agriculture.com The agreement, dubbed the Glasgow Declaration on Forests and Land, is backed by an estimated $ 19 billion in public and private investment. Including the United States sent $ 9 billion. At the same time, more than 30 financial institutions have pledged to stop funding deforestation projects in commodities including beef, soybeans and palm oil. But the plan must do more to reduce demand for these products, Greenpeace CEO John Sauven said: “Without fighting the driving forces of destruction, it's like whistling in the wind, thinking ...

Source: Agroxxi