Sustainable production commitments will be the main focus at COP26

More than 30 financial institutions, which altogether manage US$ 8.7 trillion in assets, announced during the COP26 that they will stop investing in activities tied to deforestation, according to Estadão.

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In an event, held within the COP’s World Leaders’ Summit on Forests and Land Use, which is part of the Conference of the Parties’ agenda, financial companies announced that the focus will now be support for sustainable production, Indigenous Peoples and local communities. “The aim is to move away from portfolios that invest in agricultural commodity supply chains with high deforestation risk and pursue sustainable production,” said the UK’s Department for Environment, Food and Rural Affairs (Defra), which is hosting the event.

According to the British agency, a total of US$ 7.2 billion should be mobilized to finance actions that favor a sustainable forest economy. Only countries with independently verified good methodologies to measure emission reductions will be funded.

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