Speaking at the COP26 event on forests and land use, US President Joe Biden said forests had the potential to reduce carbon globally by more than a third.
“So we need to approach this issue with the same seriousness of process as decarbonising our economy,” he said, pointing to work in the US, where he had set the goal to conserve at least 30 percent of all US land and waters by 2030.
He announced a new plan to conserve global forests “which will bring together the full range of US government tools, diplomatic, financial and policy to halt forest loss, restore critical carbon sinks and improve land management.”
Biden said the “first of its kind” plan would work with Congress to mobilise up to 9 billion US dollars through to 2030 to conserve and restore forests and mobilise billions more through partners.
“We’re going to work to ensure markets recognise the true economic value of natural carbon sinks and motivate governments, landowners and stakeholders to prioritise conservation,” adding there would be work to ensure sustainable supply chains.
“The United States is going to lead by our example at home and support other forested nations and developing countries in setting and achieving ambitious action to conserve and restore these carbon sinks.
“I’m confident we can do this. All we need to do is summon the will to do what we know is right.”
On Tuesday, day two of the UN Climate Conference (COP26) in Glasgow, British Prime Minister Boris Johnson is expected to announce a landmark agreement by over 100 countries to halt and reverse deforestation and land degradation by 2030.