When it comes to deforestation, ‘ambition falls short of ...

World

When it comes to deforestation, ‘ambition falls short of potential’

In a decade, only 0.5% to 5% of the estimated R6,9-trillion a year needed to manage forestry has been spent

Michael Taylor

Countries are spending only a fraction of the nearly $500bn (about R7,5-trillion) needed each year to stop tree loss and restore forests worldwide to help meet climate and nature goals, researchers warned on Tuesday.

An annual report on the 2014 New York Declaration on Forests, backed by more than 200 countries, firms and green groups, found the sustained reductions in forest loss needed to meet its 2030 target to end deforestation are highly unlikely near-term.

This year’s report focused on finance and forestry in national climate action plans submitted for the 2015 Paris climate accord, finding that many governments have yet to set specific forest protection goals under that pact...

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