SPECIAL REPORTS AND PROJECTS
UN seeks increased public finance to protect forests.
Published
3 years agoon
UN Secretary General, Antonio Guterres
Antonio Gutteres, the Secretary-General of the UN, made this call on Monday, May 2, 2022, at the opening of the 15th World Forestry Congress (WFC) in Seoul, South Korea.
The increase in the finance, he said, should include source-based payments and a dearth of environmental swaps to achieve a deforestation-free world.
Gutteres, who spoke through his Deputy, Amina Mohammed, also called for a budget and policy for forestry commitment among global communities.
He said it was unfortunate that about 4.7 billion hectares of forest were being lost annually to deforestation and environmental degradation in the last decade.
The UN chief called for concerted efforts toward achieving deforestation-free supply chains.
“Since the last congress in 2015, recognition of the critical role of forests of all types play in meeting the sustainable development goals and achieving the past agreements has gained much attention.
“The recent classical degradation on forest and land use has further underlined key transform to actions needed to save all forest and advance the 2030 agenda.
“This congress takes place right over the latest report of the intergovernmental panel on climate change.
“The panel warns that the world is dangerously close to irreversible topping point for forestry section, for the health of people, and for the planet,” he said.
According to him, this supports resilient livelihood, biodiversity consideration, sustainable economy and climate mitigation and adaptation.
“Forest remained under threat and in the last decade alone, the world has lost 4.7 billion hectares a year.
“We must specially recognise and act on the value of the forest hence the theme of the congress, ‘Building a Green, Healthy and Resilient Future with Forest.
“We need all stakeholders to come up with ideas and commitment that can be put into action,” he said.
Gutteres explained that forests could also be protected by expanding indigenous governance for forests in the perspectives of youth and women and using the latest scientific evidence and catchy head technology.
“I look forward to the outcome of this congress feeding into climate change and biodiversity negotiation and other policies.
“Together, I believe we can build a green, healthy and resilient future by realising the true value of the forest,” the UN scribe said.
In her remark, Princess Sasma Ali, Hashemite Kingdom of Jordan, canvassed a diversified approach to achieving success in building a green, healthy and resilient future with forest.
Ali is also Goodwill Ambassador of the Food and Agriculture Organisation (FAO).
Ali said that 30 per cent of the world’s forest had been cleared with another 20 per cent degraded.
She said it would require dedicated political will and the development of policy measures to reverse the tide.
The FAO ambassador also called for the mobilisation of funds in addition to engaging all stakeholders to achieve the target.
“Accordingly, there is no to engage all stakeholders more importantly indigenous people, and local communities’ members.
“They possess the knowledge, and the custody of this ecosystem coupled with scientific experts who can monitor the system,” she said.
Qu Dongyu, Director-General, FAO, acknowledged some progress in reforestation, particularly in Asia including countries like South Korea, Japan and India.
Dongyu said the congress was an opportunity to make further commitment toward achieving the 2030 deforestation-free world in accordance with the Sustainable Development Goals (SDGs).
By Usman Aliyu
Source: Enviro News Nigeria
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DEFENDING LAND AND ENVIRONMENTAL RIGHTS
Statement: The Energy Sector Strategy 2024–2028 Must Mark the End of the EBRD’s Support to Fossil Fuels
Published
1 year agoon
September 27, 2023The European Bank for Reconstruction and Development (EBRD) is due to publish a new Energy Sector Strategy before the end of 2023. A total of 130 civil society organizations from over 40 countries have released a statement calling on the EBRD to end finance for all fossil fuels, including gas.
From 2018 to 2021, the EBRD invested EUR 2.9 billion in the fossil energy sector, with the majority of this support going to gas. This makes it the third biggest funder of fossil fuels among all multilateral development banks, behind the World Bank Group and the Islamic Development Bank.
The EBRD has already excluded coal and upstream oil and gas fields from its financing. The draft Energy Sector Strategy further excludes oil transportation and oil-fired electricity generation. However, the draft strategy would continue to allow some investment in new fossil gas pipelines and other transportation infrastructure, as well as gas power generation and heating.
In the statement, the civil society organizations point out that any new support to gas risks locking in outdated energy infrastructure in places that need investments in clean energy the most. At the same time, they highlight, ending support to fossil gas is necessary, not only for climate security, but also for ensuring energy security, since continued investment in gas exposes countries of operation to high and volatile energy prices that can have a severe impact on their ability to reach development targets. Moreover, they underscore that supporting new gas transportation infrastructure is not a solution to the current energy crisis, given that new infrastructure would not come online for several years, well after the crisis has passed.
The signatories of the statement call on the EBRD to amend the Energy Sector Strategy to
- fully exclude new investments in midstream and downstream gas projects;
- avoid loopholes involving the use of unproven or uneconomic technologies, as well as aspirational but meaningless mitigation measures such as “CCS-readiness”; and
- strengthen the requirements for financial intermediaries where the intended nature of the sub-transactions is not known to exclude fossil fuel finance across the entire value chain.
Source: iisd.org
Download the statement: https://www.iisd.org/system/files/2023-09/ngo-statement-on-energy-sector-strategy-2024-2028.pdf
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SPECIAL REPORTS AND PROJECTS
Will more sovereign wealth funds mean less food sovereignty?
Published
2 years agoon
April 13, 2023- 45% of Louis Dreyfus Company, with its massive land holdings in Latin America, growing sugarcane, citrus, rice and coffee;
- a majority stake in Unifrutti, with 15,000 ha of fruit farms in Chile, Ecuador, Argentina, Philippines, Spain, Italy and South Africa; and
- Al Dahra, a large agribusiness conglomerate controlling and cultivating 118,315 ha of farmland in Romania, Spain, Serbia, Morocco, Egypt, Namibia and the US.
Sovereign wealth funds invested in farmland/food/agriculture (2023)
|
|||
Country
|
Fund
|
Est.
|
AUM (US$bn)
|
China
|
CIC
|
2007
|
1351
|
Norway
|
NBIM
|
1997
|
1145
|
UAE – Abu Dhabi
|
ADIA
|
1967
|
993
|
Kuwait
|
KIA
|
1953
|
769
|
Saudi Arabia
|
PIF
|
1971
|
620
|
China
|
NSSF
|
2000
|
474
|
Qatar
|
QIA
|
2005
|
450
|
UAE – Dubai
|
ICD
|
2006
|
300
|
Singapore
|
Temasek
|
1974
|
298
|
UAE – Abu Dhabi
|
Mubadala
|
2002
|
284
|
UAE – Abu Dhabi
|
ADQ
|
2018
|
157
|
Australia
|
Future Fund
|
2006
|
157
|
Iran
|
NDFI
|
2011
|
139
|
UAE
|
EIA
|
2007
|
91
|
USA – AK
|
Alaska PFC
|
1976
|
73
|
Australia – QLD
|
QIC
|
1991
|
67
|
USA – TX
|
UTIMCO
|
1876
|
64
|
USA – TX
|
Texas PSF
|
1854
|
56
|
Brunei
|
BIA
|
1983
|
55
|
France
|
Bpifrance
|
2008
|
50
|
UAE – Dubai
|
Dubai World
|
2005
|
42
|
Oman
|
OIA
|
2020
|
42
|
USA – NM
|
New Mexico SIC
|
1958
|
37
|
Malaysia
|
Khazanah
|
1993
|
31
|
Russia
|
RDIF
|
2011
|
28
|
Turkey
|
TVF
|
2017
|
22
|
Bahrain
|
Mumtalakat
|
2006
|
19
|
Ireland
|
ISIF
|
2014
|
16
|
Canada – SK
|
SK CIC
|
1947
|
16
|
Italy
|
CDP Equity
|
2011
|
13
|
China
|
CADF
|
2007
|
10
|
Indonesia
|
INA
|
2020
|
6
|
India
|
NIIF
|
2015
|
4
|
Spain
|
COFIDES
|
1988
|
4
|
Nigeria
|
NSIA
|
2011
|
3
|
Angola
|
FSDEA
|
2012
|
3
|
Egypt
|
TSFE
|
2018
|
2
|
Vietnam
|
SCIC
|
2006
|
2
|
Gabon
|
FGIS
|
2012
|
2
|
Morocco
|
Ithmar Capital
|
2011
|
2
|
Palestine
|
PIF
|
2003
|
1
|
Bolivia
|
FINPRO
|
2015
|
0,4
|
AUM (assets under management) figures from Global SWF, January 2023
|
|||
Engagement in food/farmland/agriculture assessed by GRAIN
|
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SPECIAL REPORTS AND PROJECTS
Farmland values hit record highs, pricing out farmers
Published
2 years agoon
November 21, 2022Restoring Our Land: Tackling Degradation for Climate Resilience, Food Security, and Sustainable Development at COP16
Makindye Magistrate Court grants bail to a 72-year-old for fighting for her land.
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