Latest News and Updates

Photo credit: ©FAO/Adriano Gambarini/OPAN

The United States, and 12 partners, launched the Brazil Restoration & Bioeconomy Finance Coalition (BRB Finance Coalition), which aims to mobilize at least $10 billion in public and private investment for land restoration and bioeconomy-related projects by 2030. The announcement was made on 17 November 2024 in Brazil, in the margins of the G20 Summit.

The coalition will support:

• the conservation and restoration of at least 5.5 million hectares up until 2030
• reductions of 1.5 gigatons of emissions and removals through 2050, and
• investments of at least $500 million in projects that support Indigenous peoples and local communities in the Brazilian Amazon.

The coalition is expected to leverage investments in key bioeconomy activities, such as low-emissions agriculture, forestry projects and land-use actions, complementing Brazil’s efforts to restore 12 million hectares of forest by 2030.

The Summit also reiterated its ambition to achieve a 50 percent reduction in degraded land by 2040 on a voluntary basis as committed under the G20 Land Initiative.

These positive developments come a couple of weeks before the sixteenth session of the Conference of the Parties to the UN Convention to Combat Desertification convenes in Riyadh, Saudi Arabia, to agree on the actions to take over the next two years on land degradation and drought.

For the first time in the history of Conference of Parties, there is a dedicated space, the Restoration Pavilion, whose sole focus is the restoration of degraded land in all ecosystems. In the pavilion, the UNCCD’s G20 Global Land Initiative will highlight, through 70 events held in-person and virtual meetings, the work on land restoration carried out by over 60 partners.

Learn more about the Restoration Pavilion.