Context:

• Recently, the  Brazzaville Summit or Three Basins Summit  was attended by more than 3,000 delegates from countries in the three basins of the Amazon, Congo and Borneo-Mekong-Southeast Asia.

Brazzaville Summit or Three Basins Summit 2023

• Brazzaville Summit concluded with the declaration by the Heads of State and Government of the States.
• Fund Commitment: There is a need to create a fund to address loss and damage due to climate change. 
  • Leaders urged developed countries to meet their commitments. These include the $200 billion per year by 2030, as set out in the Kunming-Montreal Global Biodiversity Framework, and $100 billion per year in climate finance as new, additional, predictable and adequate resources to developing countries. 
• Importance of Three Basin: These basins are responsible for around three-quarters of all global biodiversity and 80 percent of the world’s forest cover.

Brazzaville Summit Declaration

• Recognise the value of enhanced cooperation between the three basins Recognise that sovereign management of biodiversity, forests and associated resources of the three basins is essential
• Develop solutions together 
• Pool and capitalize on existing knowledge, experience, resources and achievements
• Involve all states and national authorities, including indigenous peoples, youth, women, civil society, academia and the private sector
• Encourage financial mobilization and the development of traditional and innovative financing mechanisms
• Establish a sustainable system of remuneration for the ecosystem services provided by the three basins.  

News Source: Down to Earth