Brazil will be among the co-signatories on Tuesday where the stretches of the Amazon rainforest have been cut down sharply. The agreement totals almost £14 billion ($19.2 billion) in public and private funds.
The agreement was applauded by experts, but they stressed that a previous deal in 2014 had “failed to slow deforestation at all.” Commitments must be fulfilled.
Felling trees contributes to climate change since it depletes woodlands that absorb large quantities of CO2.
The global meeting in Glasgow, which will be hosted by British Prime Minister Boris Johnson, will declare the agreement a “landmark accord to safeguard and restore the world’s forests.”
He will say, “These wonderful teeming habitats – these cathedrals of nature – are our planet’s lungs.”
The annual meeting in Scotland is seen as critical if the global climate crisis is to be addressed.
The countries that have confirmed their intention to sign the commitment include Canada, Brazil, Russia, China, Indonesia, and the Democratic Republic of Congo. Around 85% of the world’s forests are covered by these nations.
Some of the money will go to restoring damaged land, fighting wildfires, and assisting indigenous people in developing nations.
As part of the Paris Agreement, governments from around the world have committed to eliminating deforestation from global food and agricultural product trade.
Many industries need space for animals to graze or crops to grow. To make more space, they cut down trees.
Over 30 of the world’s major corporations have pledged to cease funding for activities that contribute to deforestation.
The £1.1 billion fund will be set up to protect the world’s second-largest tropical rainforest, in the Congo Basin.