GCF’s participation in the World Forestry Congress will build on its strong support for climate action in the forest sector. A major part of GCF’s support involves looking for ways to bring the public and private sectors together to generate much needed funds from private sector investment.
The World Forestry Congress is the largest forest-focused symposium and is held every six years. Following a one-year delay because of COVID-19, the year’s event will be held for the first time in South Korea – which is also GCF’s host country.
A key theme of the congress will be ensuring that COVID-19 recovery is channelled to strengthening measures that halt deforestation and forest degradation, a key contributor to increasing greenhouse gas emissions and the exposure of ecosystems and communities to climate change impacts.
While the public sectors of developing countries are playing an important role in generating funds to protect forests, a persistently large dearth of available funds shows there is an urgent need to mobilise private sector finances.