An estimated $200 billion per year is required for a global transformation to deforestation-free agriculture.
A statement made available to Daily Trust on behalf of 13 climate change NGOs by Susan Tonassi stated that forest and land-use could contribute 30% of the climate mitigation needed to achieve the goals of the Paris Agreement.
The climate change focus group worried that forests receive only a fraction -2% – of international development finance to mitigate climate change.
The statement noted that with the Tropical Forest Alliance 2020, approximately $50-100 billion annually could be invested in sustainable agricultural intensification, restoration of degraded lands and livestock management.
Countries also need support to strengthen their institutions, policies and forest governance.
“Over $777 billion has been spent on agriculture and land-intensive development since 2010, in the form of investments and subsidies from governments, the private sector and international donors.
“This number dwarfs finance in support of forests: $2.7 billion investment in green commodities, or $8.1 billion in international public finance to support countries that seek to reduce tropical deforestation,” the statement reads in parts.
To stop the loss of forest protection has to be factored into agricultural, infrastructure, and other investments. Redirecting finance toward sustainable land use promotes healthier and more productive landscapes in producer countries while reducing deforestation.
The group advocated a public-private dialogue that helps to redirect subsidies and supports deforestation-free commodities could help deploy finance strategically with the goal of leveraging private investments.
It added that new financial instruments could help to support farmers, de-risk investments and promote integrated landscape investments that combine an increase in agricultural productivity with the protection of forests and other ecosystems.
The 13 Climate change NGOs include Climate Focus, Conservation International, Forest Trends, The Nature Conservancy and Stockholm Environment Institute among others.