100 Countries Worldwide Declare "End Deforestation by 2030"

Declaration on Forest and Land Use Announced at COP26
UK and 11 Other Countries to Invest 14 Trillion Won in Developing Countries by 2025

[Image source=AP Yonhap News]

[Asia Economy Reporter Kim Suhwan] More than 100 countries worldwide have agreed to stop deforestation and begin soil restoration by 2030. To achieve this, $19 billion (approximately 22.3 trillion KRW) in public and private investments will be mobilized.

At the 26th United Nations Climate Change Conference of the Parties (COP26) held in Glasgow, UK, over 100 countries announced the "Declaration on Forest and Land Use" on the 1st (local time).

Participating countries in the declaration include South Korea, the United States, the United Kingdom, Japan, as well as Brazil, Indonesia, and the Democratic Republic of Congo, which together account for 85% of the world's forests.

The declaration stated, "Sustainable land use enables the world to meet the Sustainable Development Goals," and recognized "the vital role of forests in responding to climate change and maintaining ecosystems."

It further declared, "To stop deforestation and begin soil restoration by 2030, the international community will cooperate," and "calls on all leaders to join efforts to transition to sustainable land use."

The countries participating in the declaration added that "(sustainable land use) is crucial to achieving the Paris Agreement's goal of limiting global warming to 1.5 degrees Celsius above pre-industrial levels."

The UK Prime Minister's Office, as the host country, explained, "This declaration covers forests spanning 33.6 million square kilometers," an area approximately 336 times the size of South Korea.

UK Prime Minister Boris Johnson described the declaration as an unprecedented agreement and said, "Now we have the opportunity to end our long history as conquerors of nature and become its guardians."

In line with this, several participating countries and companies announced concrete plans to implement the goals outlined in the declaration.

The plans include forest conservation projects involving indigenous peoples and the development of sustainable agricultural technologies.

Following this declaration, 12 countries including the UK will establish $12 billion (approximately 14.1 trillion KRW) in public funds from next year through 2025 to support soil restoration and wildfire control in developing countries.

More than 30 private investment firms, including Aviva and AXA, plan to invest over $7.23 billion (approximately 8.5 trillion KRW) in forest conservation.

These investors have pledged not to invest in sectors related to deforestation until 2025.

This declaration is seen as an extension of the New York Declaration announced by over 40 countries in 2014 and is regarded as a step forward by presenting concrete financial input plans to achieve its goals.

This content was produced with the assistance of AI translation services.