Finance

First major deal on the Glasgow climate summit: end deforestation by 2030

The countries are allocating billions for this. The agreement announced at the climate summit in Glasgow is supported by the leaders of forested countries such as Brazil, Russia, Canada, Indonesia and Congo.

‘A milestone’

The participating countries own 85 percent of the world’s forests. British Prime Minister Boris Johnson, who will host the COP26 climate conference, calls the deal “a milestone to protect and restore the Earth’s forests.”

In order to fulfill the promise, 10.2 billion euros in public money will be allocated until 2025. In addition, 6.2 billion euros in private money will be invested.

Logging in Amazon

The fact that Brazil also agrees to the deal is good news for residents of the Amazon. Large parts of the rainforest in that region have already been cleared, causing major problems for farmers in the area:

Lungs of the Earth

Logging is one of the causes of climate change because trees absorb large amounts of CO2. Forests are also said to be the lungs of the earth. Money is also made available to protect and restore forests.

Palm oil, soy and cocoa

In addition to the deal that the 100 countries have signed, 28 countries say they will work to limit the trade in palm oil, soy and cocoa. That reports the BBC. These industries indirectly contribute to deforestation, as trees have to make way for other crops.

The deal now made is more comprehensive than an earlier deal signed by 40 countries in 2014.

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