European Commission announces €1 billion pledge to protect world forests

The European Commission has announced the allocation of 1 billion euros for a global initiative to protect forests.

Report informs, citing TASS that European Commission President Ursula von der Leyen announced today €1 billion at the 26th UN Climate Change Conference of the Parties (COP26) in Glasgow as the European Union contribution to the Global Forests Finance Pledge.

“I gladly announce that the European Commission is pledging €1 billion to protect world forests,” she said. Von der Leyen also promised that the European Commission "will soon submit a directive that should limit the EU's influence on deforestation".

"Products that enter the EU markets should not lead to deforestation," she said.