Business News of Monday, 8 July 2024

Source: GNA

World's tropical domain reeling from over-exploitation – President Akufo-Addo laments

President Nana Addo Dankwa Akufo-Addo President Nana Addo Dankwa Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has appealed to global leaders to take decisive steps to stop the over-exploitation of the world's tropical domain.

He warned that illegal logging, unsupervised agricultural activities, and climate change have taken a negative toll on forest regions, threatening their ecology and biodiversity.

"Let us think globally but act locally, prioritizing environmental stewardship alongside development," he advised.

The President made the appeal while addressing the closing ceremony of the International Conference on Afforestation and Reforestation in Brazzaville, Congo.

The Conference aimed to unite global efforts in mitigating climate risks through extensive tree-planting initiatives and adopt a declaration on afforestation while incorporating the "African and Global Decade of Afforestation" into the United Nations (UN) Agenda.

The event comes as the Intergovernmental Panel on Climate Change's sixth report warns of greater-than-anticipated climate risks, especially for vulnerable African nations.

It aligns with the sustainable development goals outlined in the 2030 Agenda and the African Union's Agenda 2063, emphasizing the role of forests in combating climate change and supporting global economic recovery.

The Conference's cardinal objectives include establishing a global afforestation strategy, increasing carbon sequestration, preserving biodiversity, and supporting forest-based goods and services.

President Akufo-Addo highlighted the need for increased and dedicated financing to sustain efforts at reversing the environmental damage.

"The tropical domain, home to nearly half of the world's forests, cannot fund the required US$393 billion annually alone.

"We must pool resources and incentivize local communities to protect forests," he implored.

He mentioned that investing in research and technology to enhance the understanding of forest dynamics is crucial to improving reforestation efforts.

The President pointed out that forests are invaluable as they provide ecological, economic, and cultural benefits essential to human life.

"Our forests are vital ecological assets and an integral part of our heritage and identity. We must protect and restore them for future generations."

President Akufo-Addo assured that Ghana was committed to leading in forest conservation and restoration and would help ensure a sustainable future for all.

Since 2016, the Government has established over one million hectares of forest plantations, enrichment planting, and native tree seedling projects.

"These efforts have created rural employment for thousands and supported food security through agroforestry initiatives.

"Our Green Ghana Day Initiative, launched in 2021, has seen the planting of over 52 million trees in just four years, thanks to the enthusiastic participation of citizens, schools, and the private sector," the President noted.