COP27 Forest Protection International Coalition with Participation from Over 25 Countries... Brazil Excluded

Collaboration to Halt Deforestation by 2030... Germany Doubles Forest Protection Fund

[Photo by AFP Yonhap News]

[Asia Economy Reporter Park Byung-hee] More than 25 countries launched a new coalition for forest protection at the 27th United Nations Climate Change Conference of the Parties (COP27), major foreign media reported on the 7th (local time). The participating countries agreed to cooperate in halting deforestation by 2030 and pledged billions of dollars in support to achieve this goal.

The first meeting of the Forest and Climate Leaders' Partnership was co-hosted by the United States and Ghana. In addition to the US and Ghana, Japan, Pakistan, the Republic of Congo, and the United Kingdom participated, collectively holding about 35% of the world's forests. Member countries agreed to meet twice a year to review progress.

At COP26 held last year in Glasgow, UK, more than 140 countries pledged to stop deforestation by 2030. However, only a few countries introduced active policies to halt deforestation after COP26 concluded.

The coalition appears to have been launched at COP27 to take more concrete actions. However, Brazil and the Democratic Republic of Congo, which possess the world's first and second largest tropical rainforests?the Amazon and the Congo Basin?were absent.

Alok Sharma, who chaired COP26 last year, issued a statement saying, "This coalition represents an important next step in fulfilling forest protection commitments and will continue to help limit global temperature rise to within 1.5 degrees Celsius."

According to the statement, at COP26 last year, there was a pledge of $12 billion in public funding contributions for forest protection by 2025, of which about 22% has been spent so far.

Germany announced it will double its forest protection fund to 2 billion euros by 2025. Private companies also pledged an additional $3.6 billion in support.

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