No Result
View All Result
INDUSTRY INSIDER
About Us
  • Industry
  • Business
  • Tech
  • Bangladesh
  • World
  • Feature
  • R&D
  • Opinion
  • Magazine
  • More
Sunday, May 18, 2025
  • Industry
  • Business
  • Tech
  • Bangladesh
  • World
  • Feature
  • R&D
  • Opinion
  • Magazine
  • More
No Result
View All Result
INDUSTRY INSIDER
No Result
View All Result
Home More

Rainforest nations unite to demand climate change compensation

Rainforest nations unite to demand climate change compensation

Rainforest nation's summit

by Insider Desk
August 10, 2023

A coalition of twelve rainforest nations has come together to demand equitable compensation from developed countries in the battle against climate change and the preservation of precious biodiversity. 

This historic pact, termed unprecedented, aptly titled ‘United for Our Forests,’ was forged during a landmark summit hosted in Brazil and marked a watershed moment in the ongoing global effort to safeguard critical ecosystems.

The participating nations in this resounding call for climate justice are Bolivia, Brazil, Colombia, the Democratic Republic of Congo, Ecuador, Guyana, Indonesia, Peru, the Republic of Congo, Saint Vincent and the Grenadines, Suriname, and Venezuela. These countries jointly issued a compelling statement highlighting the urgent need for collective action. The Amazon, the Congo Basin, and Southeast Asia, home to the planet’s most extensive rainforests, stand as sentinel regions in the fight against climate change, acting as vital carbon dioxide sinks while harboring a spectacular array of species.

The Amazon Summit, convened by Brazil’s President Luiz Inacio Lula da Silva, served as the catalyst for this landmark agreement. 

The aim of the summit was to unify rainforest nations ahead of pivotal international negotiations, notably the United Nations’ COP28 climate summit scheduled later this year. President Lula underscored the coalition’s purpose, asserting that the rich nations must provide for the preservation of the rainforest canopy and the well-being of the communities residing beneath it.

The collective statement issued by the twelve nations delineates a multifaceted approach to address the challenges posed by climate change and biodiversity loss. It calls for establishing comprehensive financing mechanisms to support the invaluable services rendered by the world’s rainforests. Notably, the pact emphasizes the need for developed nations to fulfill their obligations, including the unmet promise of providing $100 billion annually for climate financing to developing countries. Additionally, the coalition urges the fulfillment of a pre-existing commitment to allocate $200 billion per year for the preservation of global biodiversity.

The statement also confronts the covert use of environmental measures as trade barriers, obliquely referencing the recent legislation enacted by the European Union that bars the importation of goods linked to deforestation. This signal of dissent highlights the interconnectedness of economic policies and environmental stewardship on a global scale.

The landmark agreement reached on Wednesday builds upon a precursor accord established just a day prior by the eight Amazonian nations. While the latter pact garnered criticism for falling short of an unequivocal commitment to end deforestation by 2030, it undoubtedly laid the groundwork for broader collaboration and the formulation of collective demands.

President Lula, a seasoned statesman known for his propensity towards building alliances among developing nations, has consistently emphasized the obligation of industrialized countries to honor their financial commitments towards climate action. His enduring advocacy has resonated with countries that bear the brunt of climate impacts despite contributing minimally to global warming.

Including the Republic of Congo in this week’s summit signals a progressive expansion of cooperative efforts, illustrating the ripple effect of collective determination in the face of environmental crises.

In conclusion, the resolute pact forged by twelve rainforest nations reverberates as a clarion call for climate justice and intercontinental solidarity. The coalition underscores the imperative of compensatory measures from developed nations and embodies the spirit of collaborative diplomacy required to confront the complex challenges of climate change and biodiversity preservation. 

As the world approaches the COP28 summit, this historic accord lays the foundation for transformative discourse. It underscores the power of collective advocacy in the global pursuit of a sustainable future.

Tags: Climate changeCompensationRainforestSummit
Previous Post

Honda’s quarterly profit surges 78%

Next Post

Conversational AI is transforming customer journeys across industries

Related Posts

Turbine installed at the first unit of Rooppur Nuclear Power Plant

by Insider Desk
| March 25, 2025

Johan Buse new CEO of Banglalink

by Insider Desk
| March 17, 2025

Early stage entrepreneurs meet industry leaders at Orange Corners Bangladesh

by Insider Desk
| March 17, 2025

Itel unveils Power 70 smartphone in Bangladesh with 10,000mAh battery

by Insider Desk
| March 15, 2025

Allied Tobacco to establish export-oriented cigarette factory in BEPZA economic zone

by Insider Desk
| March 15, 2025

University of Chittagong and Asian University for Women jointly celebrate Pi Day

by Insider Desk
| March 15, 2025

Next Post
Conversational AI is transforming customer journeys across industries

Conversational AI is transforming customer journeys across industries

You May Also Like


Bangladesh secures $290m World Bank loan to combat air pollution
News

Bangladesh secures $290m World Bank loan to combat air pollution

by Insider Desk
May 17, 2025
0

Bangladesh has concluded negotiations with the World Bank for a $290 million loan to tackle severe air pollution through a...

Read more
Nagad Digital Bank becomes first licensed digital bank in Bangladesh

Bangladesh Postal Department takes charge of Nagad

May 17, 2025
Bangladesh eases payment commitment regulations for banks

Surplus banks shun call money market

May 17, 2025
Interest payments to surge as Government faces mounting debt burden

Interest payments to surge as Government faces mounting debt burden

May 17, 2025
Internet prices to drop by 20% from July

Internet prices to drop by 20% from July

May 17, 2025
Home
Industry
Business
Tech
Bangladesh
World
Feature
R&D
Videos
Magazine
About Us Subscribe
Terms & Conditions
Privacy Policy
Refund Policy
Cancellation Policy
Industry Insider is published by Tareq Ahmed Robin, Sayem Sharif, Md Mahfuz Ul Islam and Mohammad Saiful Islam. It is a quarterly magazine, comes from House B-114, Level – 03, Road – 07, DOHS, Mohakhali, Dhaka – 1206
Reach Out: [email protected]
© 2023 – All rights reserved with Industry Insider | Developed By YSI Bangla Limited  Follow us on our socials:
© 2023 – All rights reserved with Industry Insider | Developed By   Follow us on our socials:

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • All News
  • Industry
  • Business
  • Tech
  • Bangladesh
  • World
  • Feature
  • R&D
  • Opinion
  • More
  • About Us
  • E-Magazine
  • Videos
  • Subscribe