The COP 26 climate summit achieved some good things for the planet, but it did not result in an outcome for rainforest nations on climate finance to slow, stop, and reverse global deforestation, under the Paris Agreement.
Several decisions, resolutions and statements made up the Glasgow Climate Pact, which were the result of a compromise between almost 200 parties and mainly reflected the interests and aspirations the Global North and the energy debate. Saving tropical rainforests took a backseat from day one at COP26, apart from a bi-lateral commitment, outside the Paris Agreement, offering $19billion. And while pre-2020 Clean Development Mechanism projects made it into Article 6, to the benefit of big emitters, national emissions reductions accomplished by rainforest nations countries since 2005 did not.
As a global energy transition is arguably not moving fast enough to keep 1.5 alive this decade, cost-effective carbon reductions at gigaton scale from tropical rainforest have never been more valuable. But with many rainforest nations still battling the covid pandemic and downturn in their national economies, how much longer can they continue national conservation efforts, such as banning logging exports and placing moratoriums on commercial agriculture, based solely on goodwill?
How much commitment on climate finance within the Paris Agreement is needed? And will the global north deliver?
Join the webinar with Kevin Conrad, Executive Director, Coalition for Rainforest Nations, and learn what should be done at COP27 this November.