The COP26 Forest, Agriculture and Commodity Trade (FACT) Dialogue has taken a significant step in bringing together over 20 countries to commit to protecting the world’s forests and natural habitats from destruction.
According to a release from the British Deputy High Commission in Lagos, 23 countries including Nigeria endorsed a joint statement committing them to work together to protect the world’s forests while also promoting sustainable trade and supply chains of agricultural commodities.
The statement also highlights international commitments and obligations to protect forests such as the Sustainable Development Goals (including Goal 15), the Paris Agreement, the Convention on Biological Diversity, and agreements under the World Trade Organisation.
Launched in February, the FACT Dialogue brings key countries which buy and produce products such as beef, soy and palm oil together to agree on how these can be traded more sustainably.
The landmark statement is the result of collaborative action on an issue that is complex but also critical to mitigating greenhouse gas emissions and limiting a global temperature rise to 1.5 degrees Celsius.
International trade in agricultural commodities like palm oil, soy and beef, is worth over $80bn per year.
Globally, 1.6 billion people depend on forests for their livelihoods, many of them in developing countries.
Nigeria is a producer and consumer of forest risk agricultural commodities. Domestically it produces cocoa and palm oil but it also imports palm oil from Southeast Asia.
COP26 President-Designate, Alok Sharma said: “The FACT Dialogue has much work ahead to deliver on its objectives as we move towards COP26. But the publication of today’s joint statement marks a highly important first step in laying the foundation for our work.
“To have brought so many countries together, both producers and consumers, and to plan a way forward on sustainable trade is a fantastic start. I am confident that this is just the beginning as we work to protect trade and development, and our biodiversity-rich forests, in equal measure.”
British High Commissioner, Catriona Laing said: “In Nigeria the UK is working with the Federal Government, the private sector and with local communities across the country to promote investment in climate-smart practices and business models that will help reduce emissions, increasing productivity and build climate resilience.
“Nigeria’s active engagement in the COP26 FACT Dialogue and their endorsement of the joint statement is very welcome. We look forward to more collaborations like this as we continue to work together towards a common goal of sustainably producing agricultural commodities.”
Forests are the largest natural carbon sink and a vital harbor of biodiversity but they are disappearing at an alarming rate. Nigeria has one of the highest deforestation rates globally, it loses approximately 350,000 – 400,000 hectares per year. Logging, agriculture and collection of fuelwood are the leading causes of forest loss in Nigeria.
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