At the 28th UN Climate Change Conference (COP28) in December 2022, the Parties finally agreed on the first Global Stocktake (Decision 1/CMA.5) after extended negotiations. Paragraphs 33 and 34 under the mitigation section emphasize the importance of LULUCF, in particular halting and reversing deforestation and forest degradation by 2030.
Paragraph 33: Further emphasizes the importance of conserving, protecting and restoring nature and ecosystems towards achieving the Paris Agreement temperature goal, including through enhanced efforts towards halting and reversing deforestation and forest degradation by 2030, and other terrestrial and marine ecosystems acting as sinks and reservoirs of greenhouse gases […].
Paragraph 34: Notes the need for enhanced support and investment, including through financial resources, technology transfer and capacity-building, for efforts towards halting and reversing deforestation and forest degradation by 2030 in the context of sustainable development and poverty eradication, in accordance with Article 5 of the Paris Agreement, including through results-based payments for REDD+ activities; and alternative policy approaches, such as joint mitigation and adaptation approaches for the integral and sustainable management of forests, while reaffirming the importance of incentivizing non-carbon benefits associated with such approaches.