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Global leaders and ministers gathered today at COP29 for a pivotal event focused on advancing forest protection and accelerating climate action. Hosted by Ghana's President Nana Akufo-Addo and moderated by UN Climate Change High-Level Champion Razan Al Mubarak, the "Leaders Protecting Forests for Climate, Lives, and Livelihoods" session showcased recent progress and called for urgent action to address the dual crises of deforestation and land degradation.

The event, organized by the Forest & Climate Leaders' Partnership (FCLP), brought together Heads of State and ministers from 12 countries, alongside representatives from the Global Alliance of Territorial Communities (GATC). Leaders outlined strategies to halt forest loss by 2030, emphasizing the vital role forests play in supporting sustainable development, fostering rural transformation, and achieving climate goals.

With the global community facing mounting environmental challenges, the event underscored the need for sustained political momentum following the UAE Consensus, which commits all UNFCCC parties to halt and reverse deforestation by the end of this decade. Key discussions focused on the integration of forest protection into broader national climate plans and the scaling of finance and technological solutions to curb deforestation.

Addressing Critical Gaps in Forest Financing

A major theme of the event was the disparity between the vital role forests play in mitigating climate change and the level of investment they receive. Despite forests sequestering approximately 20% of global carbon emissions, they currently receive just 3% of available climate mitigation finance. Leaders emphasized the need to increase funding for forest conservation and restoration through mechanisms such as Country Packages, forest carbon markets, and the Tropical Forest Forever Facility (TFFF). Scaling financial support for forests is critical to meeting the climate goals outlined in countries' Nationally Determined Contributions (NDCs) under the Paris Agreement.

Protecting Indigenous Rights and Advancing Land Tenure

Another key issue discussed was the importance of recognizing the rights of Indigenous Peoples and local communities (IP&LCs) in forest conservation efforts. Indigenous leaders and government representatives highlighted the need to protect land tenure rights as a fundamental step toward achieving both climate and biodiversity targets. Recognizing IP&LCs' critical role in forest stewardship is seen as essential to creating equitable and effective solutions to deforestation.