COP28 Official Side Event

Advancing Sustainable Forest Management:
Financing Mechanisms for Carbon and Biodiversity
5 December 2023, 16:45–18:15
COP28 Official Side Event Venue- SE Room 9Dubai, United Arab Emirates
Introduction
Tropical forests are vital for climate change mitigation and adaptation, storing immense amountsof carbon and contributing significantly to global biodiversity. These forests are a natural capitalon which the livelihoods of many people depend. However, deforestation poses a growing threat,with an alarming annual loss of approximately 10 million hectares of forests from 2015 to 2020.
To address this challenge, sustainable financing is essential, focusing on carbon sequestration andbiodiversity conservation through the effective management of forest resources as a nature-based
solution. This necessitates an integrated approach, leveraging various financing mechanisms, fromvoluntary contributions to carbon market instruments.
Diverse sources of funding are indispensable for supporting a wide range of initiatives, from
effective policy formulation and establishing robust legal and institutional governanceframeworks, including monitoring, reporting and verification systems, to facilitating various
capacity building for local stakeholders. Increased and sustainable financing is critical for reducing
deforestation, conserving and managing forests, enhancing ecosystem services, and strengtheningsocial-ecological resilience.

Main Objectives of the event
This event aims to discuss the significance of implementing forest-based solutions to climatechange and the critical role of establishing sustainable financial mechanisms to support climatechange mitigation and adaptation, and biodiversity conservation. Discussions will center on thegoal of enhancing forest carbon contributions and generating tangible socio-economic benefits,with a particular focus on the well-being of Indigenous Peoples and local communities by exploringsustainable financing mechanisms to secure the future of our forests.
Modalities and reporting of the event
This event will take place at the official side event venue of COP28, and conducted in English
without interpretation services. Following the presentations by all speakers, a panel/open
discussion will address two guiding questions.
The Earth Negotiations Bulletin (ENB) will be providing coverage of this side event.
Moderator and Speakers
Moderator: Ms Sheam Satkuru, ITTO Executive Director
Dr Hwan-ok Ma, Officer-in-Charge. Division of Forest Management, ITTO
“Sustainable Tropical Forest Management (SFM): Nature Based Solutions for Carbon Emission
Reduction and Timber Production Enhancement”
Dr Yasumasa Hirata, Forestry and Forest Products Research Institute (FFPRI) of Japan“Synergy of Adaptation and Mitigation of Forests against Climate Change through SustainableForest Management”
Mr Oseas Barbarán Sánchez, President, CONAP-Peru“Direct Climate Financing for Indigenous Peoples”
Ms Faiha Azka Azzahira, President of IFSA (International Forestry Students’ Association) LCUniversitas Gadjah Mada, Indonesia“Empowering Youth to Restore, Conserve and Manage tropical forests”
Two guiding questions:
1. What specific actions/activities of sustainable forest management are crucial to tackle
climate change adaptation and mitigation over the next five years?
2. What is your next move to support the development of financing mechanisms for forest
carbon and biodiversity?

Organizers of the event:To deliver insights collectively from various actors, this event involves;
The International Tropical Timber Organization (ITTO) is an intergovernmental organizationthat promotes the sustainable management and conservation of tropical forests, along with theexpansion and diversification of international trade in tropical timber from legally harvested
and sustainably managed forests. For further details, visit https://www.itto.int/The Forestry and Forest Products Research Institute (FFPRI) of Japan is a distinguished national
government organization with a rich history spanning over 110 years. It has been at theforefront of conducting interdisciplinary research on forests, forestry, the timber industry, andtree breeding. For further details, visit https://www.ffpri.affrc.go.jp/ffpri/en/index.html.
The Confederation of Amazonian Nationalities of Peru (CONAP) is an organization dedicated to
the national representation of Amazonian indigenous peoples. With 27 years of commitment, it
has actively championed the defense of collective rights for indigenous peoples and nativecommunities, contributing significantly to shaping the national political agenda. For furtherdetails, visit http://www.conap.org.pe/.
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