In September 2022, Mottley issued a passionate warning that vulnerable developing countries were unable to meet the triple crisis of climate change, debt, and increased costs of living. The call for a reform of the multilateral financial system is spearheaded by Mia Mottley, the Prime Minister of Barbados. As a result, the international financial system continues to favor short-term exploitation of land and resources over conservation and sustainable use to the detriment of our climate and ecosystems.Ī reform that effectively supports vulnerable countries is overdue, and another crisis is looming. Such finance often demands investments in activities that promise stable and fast returns. These countries often depend on external finance – private and public – to invest in the institutions, capacities, policies, and infrastructure that are essential components of sustainable development. Countries located in the three basins are developing or emerging economies that face the challenge of combining conservation with development goals. The international financial system fails to recognize the value of tropical forest systems as global assets that are essential for a safe and healthy environment for all people. The Summit provides a unique opportunity to make the case for a reform of the rules of global public finance to value tropical forests as global climate and biodiversity assets. Rarely has there been an event where forests play a more central role than the forthcoming meeting in Brazzaville. These three basins account for 80 percent of the world’s tropical forests, which house two-thirds of terrestrial biodiversity and play an essential role in regulating the global carbon balance. 19 October 2023 | Next week, the Republic of the Congo will host the Three Basins Summit of the Amazon – Congo – Borneo – Mekong – Southeast Asia tropical forest basins.
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