Financing forest action: investing in forests to address the climate crisis

Nov 4, 2021  14:45 - 16:00

(GMT +1:00)

Location:  Glasgow
Event URL:  https://www.un-redd.org/post/financing-forest-action-investing-in-forests-to-address-the-climate-crisis
Hosted by: UN-REDD Programme

This is a hybryd in-person and virtual event

Despite the tremendous mitigation potential offered by tropical forests, this solution to the climate crisis remains underfunded. In the context of increasing public-private efforts to mobilize transformative finance to protect forests, this COP 26 side event brings together high-level decision makers from forest countries to discuss catalytic opportunities to scale up finance for forest action necessary to keep global warming below 1.5C.

Some of the most cost-effective climate solutions can be activated by investing in tropical forests through national and jurisdictional programs to reduce tropical deforestation, working across entire countries. The Green Gigaton Challenge (GGC) proposes a public-private bid to mobilize funds to pay for at least one gigaton of emission reductions and removals from forests per year by 2025. This would send an unmistakable signal of ambitions and be a powerful force to help change the economics and politics of deforestation and restoration in many parts of the world. Funds mobilized through the GGC can contribute substantially to finance COVID-19 recovery efforts in rural areas of forest countries.