Why deforestation matters at London Climate Action Week

News / 23 Jun 2023

London Climate Action Week is an opportunity to show that 2023 can be a decisive year for tackling the climate and biodiversity crises, if urgent action is taken to end deforestation.

With three events during this important week, Global Canopy will be focusing on the finance driving deforestation, demonstrating  data that can help effect real change, and looking at Brazil six months into a new Presidency.

Deforestation is responsible for 11 per cent of global greenhouse gas emissions and decimates the tropical forests that are home to 80 per cent of biodiversity on land. Ending deforestation is central to the Paris Agreement and Global Biodiversity goals, and reaching net zero. 

Many companies and financial institutions have already begun showcasing their own climate commitments and net zero plans, but our data shows that no-one is yet doing enough on deforestation to make those plans a reality. 

Deforestation is responsible for


of global greenhouse gas emissions

During London Climate Action Week Global Canopy will be highlighting the solutions that can drive real change and bring an end to commodity-driven deforestation.

The Race is On: Net Zero & Nature Positive for Climate Action

The UN has set a deadline of 2025 for ending tropical deforestation. They’ve been joined by groups including the Race to Zero campaign and the Glasgow Financial Alliance for Net Zero (GFANZ) who recognise that immediate action is the only way to achieve net-zero goals.

The finance sector is key to driving change. Last year alone, our Forest 500 report showed that 150 financial institutions gave $6.1 trillion in loans and investments to the 350 companies most at risk of driving deforestation. 

Global Canopy and partners including the Climate Champions Team will showcase how nature-positive action can be accelerated.

How data can tackle deforestation and meet net zero targets

Deforestation is complex. To halt and reverse the destruction, financial institutions need credible data they can use. But that data now exists. In fact, deforestation has the most advanced and concrete data in the nature realm. Tools like the Forest 500, Trase and SPOTT have transformed the landscape for financial institutions.

These data solutions will be showcased at an event led by a group of science-backed NGOs with decades of experience on deforestation. It will introduce Forest IQ, a new tool that brings together this data on a single platform.

The future of the Amazon: New hope and the many challenges for Brazil

Brazil is the world’s fifth-largest emitter of greenhouse gases and it is a nation that is key to the success of the Paris Agreement and post-2020 global biodiversity targets. That’s because it’s home to vast biomes including the Amazon rainforest and the Cerrado, which if protected can be a huge part of the climate solution.

Six months on from the inauguration of President Luiz Inácio Lula da Silva, leading Brazilian environmentalists and activists will explore the current challenges in the climate, nature and people agenda. Although deforestation rates are falling, the panel will explore the continued opposition to Indigenous peoples rights within the National Congress. It will also assess the role of the international community in helping Brazil once again become a global  beacon for sustainability.

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