Ministerial forum on forest finance
May 3, 2022 | 9:00 AM KST - 11:00 AM KST
In November 2021, 141 countries committed to halt and reverse forest loss and land degradation by 2030 in the Glasgow leaders’ declaration on forests and land use. Achieving these commitments requires coordinated global action, scaling up investments and aligning incentives for sustainable food production and ecosystem protection. These investments to date only account for only 8% of public climate finance and a small proportion of agricultural subsidies in sustainable land use.
In addition to specialized environment and forestry ministries, finance and planning ministries also have an important role to play to align incentives and prioritize public investment to maintain or enhance a nation's forests. The session showcased leading examples of finance and economic policies and other measures to halt deforestation and forest degradation and support sustainable landscape use. Opportunities and barriers to further integrate climate and forestry in financial and economic development policies will be discussed.
- Promote progress towards commitments under the Glasgow leaders’ declaration on forests and land use, including actions needed towards coordinated global action, scaling up investments and aligning incentives for sustainable food production and ecosystem protection.
- Enhance momentum towards increased relevance of forests and nature-based solutions as part of the social and economic agendas.
- Support dialogue on how public policy, public finance and international cooperation play a critical role to correct the underlying market failures, correct incentives and mobilize both public and private investment.
- Share experiences on how leading countries are mobilizing investment to forests and maximizing its social return, particularly through mainstreaming forests and nature-based solutions in national financial and development policy measures.