Resources to fight deforestation

Regulation & Policy    Nov 3, 2021 4:15 PM

Germany, Norway and UK, in the framework of COP26, announced a donation to support Colombia in the fight against deforestation.

These countries will donate US$33.5M to support the Colombian government’s zero deforestation strategy, Portafolio reported.

This investment is because Colombia achieved certain environmental goals such as the National Policy for the Control of Deforestation, the update of the Nationally Determined Contributions and the use of areas according to their land vocation during 2020.

“These resources will be distributed between the Sustainable Colombia Fund and the Amazon Vision Program, and will be reinvested in actions that contribute to combat deforestation and in the Payments for Environmental Services (PES) initiative, among others,” the Ministry of Environment said.

In addition, donor countries pledged to support Colombia’s efforts in this area with up to US$366M, of which US$260M are payments for emissions reductions achieved.

Another financial contribution was announced by the UK Environment Minister, Lord Zac Goldsmith, who said that the UK would invest £1.5B for forest protection.

“We are fully committed to doubling our efforts in this country and the Amazon, working in partnership with Minister Correa and the Colombian communities. I am very much looking forward to seeing this relationship flourish,” Goldsmith said.

Bottom-Line: These resources will be critical to advance sustainability plans in the country. However, Colombian authorities must make an enormous effort to guarantee the proper use of these resources to avoid waste, political bickering or corruption and to continue receiving this support from developed countries.

The country must also assure that programs like PES encourage the right behaviors so that deforestation is stopped and, if possible, reversed. The easiest way Colombia can achieve its climate commitments is by reversing what has already been lost.

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