COP26: European Commission announces €1 billion pledge to protect world forests

Published by
The Malta Business Weekly

European Commission President Ursula von der Leyen announced today €1 billion at the 26th UN Climate Change Conference of the Parties (COP26) in Glasgow as the European Union contribution to the Global Forests pledge. This 5-year support package from the EU budget will help partner countries to protect, restore and sustainably manage forests worldwide and deliver on the Paris Agreement.

President Ursula von der Leyen said: “Forests are the green lungs of the earth. We need to protect and restore them. I gladly announce that we are pledging €1 billion to protect world forests. This is a clear sign of the EU’s commitment to lead global change to protect our planet, in line with our EU Green Deal.”

Commissioner for International Partnerships, Jutta Urpilainen, added: “The EU’s contribution pledged today to sustainably manage, restore and protect forests will support sustainable growth and jobs, climate mitigation and adaptation, as well as preservation of biodiversity in our partner countries. The European Union will work in partnerships with governments, civil society, indigenous peoples and private actors, in a multilateral approach, to achieve the Sustainable Development Goals and to put people and planet first. The specific focus on the Congo Basin is a timely message on the importance of this unique area and its ecosystem.”

This pledge is the European Commission’s contribution to the Global Forests pledge made at COP26 by the international community. As a follow-up, the EU will work with partner countries to conserve, restore and ensure the sustainable management of forests in a comprehensive and integrated way. Within the €1 billion pledged today, €250 million will go to the Congo Basin.

The Malta Business Weekly

In 1994, the Malta Business Weekly became the first newspaper fully dedicated to business. Today this newspaper is a leader in business and financial news. Together with the launch of the MBW newspaper, the company started organising various business breakfasts to discuss various current issues that were targeting the business community in Malta.

Recent Posts

MFSA warns public of fraudulent companies misusing licensed entities’ details

The Malta Financial Services Authority (MFSA) has issued warnings against several fraudulent companies exploiting the…

1 day ago

Prime Minister visits Gozitan businesses which thrived after receiving support

During a visit to Gozo, Prime Minister Robert Abela toured two Gozitan businesses that have…

1 day ago

MDA calls for reform to ensure ‘fairness and accountability’ in magisterial Inquiries

The Malta Developers Association (MDA) on Saturday expressed serious concerns about the practice of implicating…

1 day ago

BOV Bugibba and Ħal Luqa branches reopen with modern upgrades

Branch in Ħaż-Żebbuġ closes for refurbishment Following weeks of intensive work, the Bugibba and Ħal…

1 day ago

Gozo’s economic growth must continue to result in common good and identity preservation, PM says

Prime Minister Robert Abela said that Gozo is an example of how economic growth must…

1 day ago

€1.6 billion to be invested in pensions and social benefits throughout 2025

€1.6 billion is set to be spent on pensions and social benefits throughout the calendar…

2 days ago