The UN Secretary-General has emphasized the world must achieve three related goals: reach net zero emissions by 2050; build resilience and adapt to accelerating climate change; and arrest the degradation and restore natural capital particularly biodiversity.
Large scale investments in the forest sector, the most mature nature-based solution, present a potentially significant contribution in the fight against the interrelated climate, nature and health crises. Forests can contribute up to 6.5 GtCO2e/year to close the emission gap , are crucial reservoirs of biodiversity of global importance, constitute pillars in the adaptation efforts of local and indigenous communities and have one of the biggest economic multipliers. Forests are also key to Building Back Better and directly benefit rural communities.
2021 can be the year to “make peace with nature” if we increase our ambitions and identify opportunities for a quantum shift in scale, funding and results. The Green Gigaton Challenge proposes a public-private bid to mobilize funds for transacting 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.
This session will explore how action and finance can be dramatically scaled up towards COP26. How can we translate the growing level of interest and commitments of a diverse set of actors into forest action over the coming decade?
Learn more about the Green Gigaton Challenge: https://www.greengigaton.com/