The 2022 State of the World’s Forests Report has outlined the potential of forests to tackle climate change, but states further investment is vital to do so.
The report, which was launched this week (May 2) at the World Forestry Congress, states that forests and trees can help the world to recover from multiple crises if their potential is nurtured.
It outlines three key pathways to doing this, including maintaining forests; restoring degraded lands and expanding agroforestry; and sustainably using forests and building green value chains.
However, while the report outlines the potential that these three avenues hold, it also acknowledges that investment in the forestry sector is far below what it needs to be. It states:
“Total financing for the forest pathways needs to increase threefold by 2030 and fourfold by 2050, for the world to meet climate, biodiversity and land-degradation neutrality targets.”
According to the report, the estimated required finance for forest establishment and management alone could amount to $203 billion/year by 2050.
It reiterates the importance of directing funding towards the recovery of forests and the creation of long-term policies that would mobilise private-sector investment in the industry.
Forests report
The 2022 report was released against the backdrop of the Glasgow Leaders’ Declaration on Forests and Land Use, as well as the pledge of 140 countries to eliminate forest loss by 2030.
The Food and Agriculture Organisation of the United Nations (FAO) has outlined that the pursuit of the three avenues discussed within it, can help to generate sustainable economic and social benefits, such as meeting increased demand for materials while addressing impending environmental challenges.
According to the report, halting deforestation and maintaining forests could avoid emitting around 3.6 gigatonnes of carbon dioxide equivalent (GtCO2e) per year between 2020 and 2050.
This would include approximately 14% of what is needed by 2030 to keep global warming below 1.5 °C, and would also safeguard more than half of the earth’s terrestrial biodiversity.
It is also stated that 1.5 billion ha of degraded land would benefit from restoration through afforestation and reforestation. According to the report, doing so would be a cost effective way of removing up to 1.5 GtCO2e per year from the atmosphere.
This would be the equivalent of taking 235 million gas-powered passenger cars off the road every year between 2020 and 2050.
The sustainable use of forests is essential to conserve biodiversity and provide for human well-being according to the report, as global consumption of all natural resources is expected to more than double from 92 billion tonnes in 2017 to 190 billion tonnes in 2060.
Promoting awareness and encouraging dialogue on the use of forests as a way of achieving environmental goals can help to unlock the potential of these pathway, the FAO concluded.