Official visit to the US: Rainforest lunch
Friends of the rainforests
The world's rainforests play a vital role in sustaining life on Earth. In addition to its key role within biodiversity, the rainforests play a fundamental part in our common fight against climate change.
I was encouraged that our British friends managed to place such a strong focus on rainforests at the Climate Summit in Glasgow.
I would also like to thank the US for its leadership and contributions to the fight against deforestation.
It will not be possible to reach the temperature goals of the Paris Agreement if we do not protect the world's rainforests.
The LEAF Coalition is an important step in achieving this. The Coalition is, to date, the largest ever public-private partnership to provide finance for forests.
It is the result of a collective effort by governments, corporations and civil society groups who are working to mobilise large-scale forest finance.
I want to congratulate everyone involved in getting us this far. And I am pleased to see that some of you have joined us here today.
Partnerships such as the LEAF Coalition are crucial if we are to halt deforestation by 2030. No single country, company, or organisation will be able to do this on its own.
It is encouraging to know that the Coalition, at COP26, signed its first Letters of Intent with forest jurisdictions that pledge to slash their emissions from deforestation and forest degradation.
The fact that more than 30 jurisdictions responded to LEAFs' Call for Proposals this summer, shows that many forest countries are committed to increasing ambitions to reduce deforestation.
These jurisdictions are sending a strong signal that they stand ready to do what it takes to protect their forests.
It is also very encouraging to see that seven new participants have joined the Coalition, more than doubling the corporate buyer pool since LEAF was established earlier this year.
The LEAF Coalition has reached its goal of mobilising 1 billion dollars, but this is just a starting point for the funding that can and needs to be provided to save the world's forests.
At present, only an estimated 3 % of climate finance is directed towards forest protection.
I am glad to see that more and more private sector companies are responding to the urgent call to mobilise and catalyse finance for forests.
I look forward to hearing your views on how we can build on this momentum to move forward – how we can encourage more companies to participate in LEAF and make it a global norm to include forests as an integral part of corporate climate leadership.
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