The Global Environment Facility (GEF) here on Saturday launched
the Tropical Forest Account Initiative which will help safeguard
forest ecosystems while strengthening sustainable financing for
protected areas and for sustainable forest management.
"The window to save the last remaining functioning expanses of
tropical forests, which are responsible for the delivery of crucial
global environmental services, is closing fast," said Monique
Barbut, the chief executive officer (CEO) and chairperson of the
world's largest environmental funding body.
"GEF is teaming up with its partner agencies, governments,
business and civil society to address this challenge head on. GEF'
s investments are also expected to encourage more robust financing
from private investors looking to build environmentally-friendly
forest markets."
GEF would fund projects to stop deforestation in 17 countries of
the Amazon, Congo Basin, New Guinea and Borneo. Tropical
deforestation is on the rise, and is now responsible for over 20
percent of global CO2 emissions.
Habitat loss in tropical forests threatens 74 percent of
endangered mammals, 44 percent of endangered birds, 57 percent of
endangered amphibians, and 67 percent of endangered reptiles. Each
of the GEF-targeted areas has over 8 million hectares of wet
broadleaf forests, and they collectively harbor an astonishing 54
percent of tropical forest cover and 68 percent of tropical forest
carbon.
More than 70 percent of the forest remains intact, but man-made
threats are mounting quickly. By focusing on large, intact tropical
forest, the GEF can invest inrelatively low cost, proactive ways to
prevent deforestation in countries where forest cover is high.
Intervening in these areas now is much more cost effective than
trying to reverse damage in already deforested areas.
"GEF's investment will fund the strengthening and sustainable
financing of protected area networks, the introduction of effective
policy and regulatory frameworks for mainstreaming forest
conservation in development sectors, and also the fostering of
markets for forest goods and services," Barbut said.
The GEF values the role that tropical forests play in providing
global and local environmental benefits. In addition to conserving
global biodiversity, and providing spiritual and cultural havens
for local and remote populations, these forests are vital for
sustainable development in each and all of these countries.
The GEF is a 178 member-strong international financing body
devoted to global environmental issues that support sustainable
development. GEF grants flow to projects in developing countries
related to biodiversity, climate change, international waters, land
degradation, the ozone layer and persistent organic pollutants.
(Xinhua News Agency December 8, 2007)
