Participants took stock of progress and challenges to date in meeting the goals of the 2014 New York Declaration on Forests, while highlighting innovative areas of action.
The 32-member Council will consider a new work program under the GEF’s eighth replenishment cycle (GEF-8) totaling over USD 550 million, which is expected to generate over USD 4 billion in co-financing for projects benefitting people and the planet.
Members reaffirmed the central role of sustainable tropical timber trade in meeting global environmental and development objectives. Yet, despite high global funding levels for forests, clarity on how these ambitions will be financed remains limited.