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The UK has committed £239 million in funding to support forest-rich nations such as Colombia and Indonesia in combating climate change. Announced during the final day of Cop29 in Baku, Azerbaijan, this investment underscores forests' critical role as carbon sinks, absorbing vast amounts of atmospheric carbon dioxide.
This funding is part of the UK's more significant pledge of £11.6 billion in carbon finance by 2026, with £1.5 billion specifically allocated for protecting and restoring forests. Tropical forests, which house two-thirds of the world’s biodiversity and support the livelihoods of 1.6 billion people, are a focal point of this initiative. These habitats also serve as a critical defense against dangerous global warming by absorbing climate-heating CO2.
Energy Secretary Ed Miliband said: “Forests are the lungs of our planet – without them climate security is impossible. We’re determined to play our part in mobilising finance to protect and restore global forests in these critical years for climate action.
“The climate crisis has no borders and these issues impact people back home in the UK – we’re already seeing the damage flooding and record heatwaves can do to businesses and the most vulnerable in our communities.
“Providing this funding now helps prevent the escalating costs of climate catastrophe at home and abroad, this is what the UK means by climate leadership.”
The most considerable portion of the funds, £188 million, will go to the Scaling Climate Action by Lowering Emissions (Scale) programme, which fosters high-integrity forest carbon markets. These markets aim to ensure the effective buying and selling of carbon credits, driving meaningful emission reductions.
Additionally, £48 million will be allocated to blended finance efforts, unlocking private investments in sustainable forest enterprises across tropical regions. A further £3 million will be directed to the UN to help countries mitigate climate change by reducing deforestation, restoring forests, and empowering local communities that depend on these ecosystems.
Challenges at Cop29:
The funding comes amidst mounting frustrations in Baku over stalled negotiations on climate finance for developing nations. Widespread criticism has also been leveled at the perceived lack of ambition in mitigation proposals and the limited focus on nature during the summit. Despite these setbacks, the UK’s forest-focused funding underscores the importance of halting and reversing forest loss as a critical global mitigation strategy.
Beyond Forests: Marine and Coastal Conservation:
In addition to forest initiatives, the UK announced 20 projects to drive lasting improvements in the marine environment and support coastal communities worldwide.
The UK Government also reaffirmed its intent to improve the integrity of voluntary carbon and nature markets, ensuring their practical use for emissions reductions. Negotiations on carbon market rules at Cop29 have seen more progress than those on broader climate finance and mitigation, offering hope for meaningful outcomes.
As orangutans, tigers, and jaguars face threats in their tropical forest habitats and global biodiversity continues to decline, the UK’s financial commitment highlights an urgent need for international cooperation. By protecting forests and fostering sustainable practices, the UK aims to contribute to a liveable climate for both people and wildlife, ensuring a thriving future for future generations.
Ruth Davis, the UK’s nature envoy, said: “Urgent action is needed to address the nature and climate crisis – we cannot tackle one crisis while ignoring the other. Global co-operation is vital to improve the health and resilience of our planet for future generations.
“At Cop29, the UK continues to lead the way – providing vital funding for forests and oceans and working to ensure the global economy functions in a way that protects and restores nature.”