Sustainable forest-based bioeconomy for climate change mitigation and adaptation

Wednesday, 20 November 2024
9:00-13:00 (UTC+4)
COP29 Forest Pavilion, UN Climate Change Conference (Blue Zone)
Baku, Azerbaijan

Livestream on the UNDESA Youtube channel

Forests are under pressure from climate-related stressors and the global demand for forest-based products is growing. Achieving a sustainable forest-based bioeconomy can support "enhanced efforts towards halting and reversing deforestation and forest degradation by 2030" as recognized in the first global stocktake of the Paris Agreement, while contributing to achievement of the SDGs and the Global Forest Goals.

The Collaborative Partnership on Forests (CPF) works collectively to support countries to accelerate progress towards achieving these forest-related goals and targets, and fully unlock the potential of forests and their goods and services, including for climate mitigation and adaptation. Under the umbrella of CPF, a range of initiatives are supporting the transition towards a sustainable forest-based bioeconomy, by strengthening collaboration on sustainable wood-based value chains and encouraging greater use of long-lived harvested wood products to extend forest carbon benefits, including in the building sector.

As part of the COP29 series of events of the Collaborative Partnership on Forests, the initiative is led by FAO, with the Government of Japan and ITTO as co-leads.

Agenda

9:00-9:15 Opening remarks

Scene setting and introduction to the day. 

9:20-10:20 Transparent forest data in support of the sustainable forest-based bioeconomy  

This session will underscore the importance of forest monitoring and data transparency for the implementation of the Paris Agreement. It will delve into countries' progress and challenges working towards forest and forest product data transparency and reporting. Participants will also discuss capacity development needs for integrating forest bioeconomy activities into ETF reporting and ensuring alignment with national and global climate goals.  

10:30-11:25 Realizing the potential of the forest-based bioeconomy through sustainable wood  

Scaling the use of sustainable wood can make significant contributions for achieving carbon neutrality and resilient economies, by replacing fossil-fuel based and carbon-intensive materials with long-lived harvested wood products that contribute to carbon mitigation and adaptation. This session will firstly take stock of global progress on the implementation of sustainable wood-based pathways for climate action, including through the Sustainable Wood for a Sustainable World and the WOOD for GLOBE initiatives. Participants will hear directly from countries and other stakeholders regarding their efforts to renew and broaden sustainable wood commitments, and about new mechanisms to advance the forest-based bioeconomy.

11:35-12:30 Finance and investment in forest product value chains for climate action 

In the context of broader discussions on climate finance at COP29, this session will explore how mobilizing new investments, including from the private sector, can support the development of the sustainable forest-based bioeconomy and accelerate the transition to carbon neutral economies.  Participants will also discuss opportunities for leveraging partnerships between the private sector and other stakeholders to enable and scale forest product value chain innovations for climate action. Examples will showcase on-the ground solutions that have increased sustainability, efficiencies, added value and promote investments in forest product value chains, with clear connections to climate change mitigation and adaptation actions.  

12:40-13:00 Closing session

Wrap-up of key themes and looking ahead to COP30.