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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Wildfires, rising temperatures imperil northern hemisphere forests, UN says

    Published by Global Banking and Finance Review

    Posted on November 5, 2025

    Featured image for article about Headlines

    By Olivia Le Poidevin

    GENEVA (Reuters) -Record wildfires and rising temperatures are threatening decades of forest growth in the northern hemisphere, potentially turning vital carbon sinks into carbon emitters, a new U.N. report said on Wednesday.

    The report by the U.N. Economic Commission for Europe (UNECE), released ahead of the COP30 climate conference in Brazil, found that forests in Europe, North America, the Caucasus and Central Asia are slowing in their ability to absorb carbon dioxide from the atmosphere.

    If current trends continue, these forests could reach a tipping point where they begin releasing more carbon than they absorb, it warned.

    This would undermine efforts to meet the Paris Agreement target of lowering emissions to keep global warming to 1.5 degrees Celsius as these forests currently offset a major portion of human-produced CO2 emissions from fossil fuels and deforestation.

    Forests in the northern hemisphere hold about half of the world's carbon storage.

    ARCTIC BOREAL FORESTS VULNERABLE

    "The message is clear: What we have achieved over the last three decades is now at serious risk from the climate emergency," UNECE Executive Secretary Tatiana Molcean said in a statement.

    The report highlights the vulnerability of the Arctic boreal forests, which contain nearly half of the world's primary, old-growth woodland and store large amounts of carbon. These forests face growing threats from rising temperatures and wildfires.

    The northern hemisphere accounts for over 42% of the world's forests and nearly half of its primary woodland but is increasingly exposed to fire, pests and drought, according to the report.

    Such factors have led to Europe's forests absorbing nearly one-third less CO2 annually in 2020-22 compared to 2010-14, a study led by the European Union’s Joint Research Centre found.

    "We cannot afford to lose the planet's most powerful natural defense," Molcean said. "The rising tide of wildfires and drought is pushing our forests past a critical tipping point."

    At COP30, Brazil is set to launch the Tropical Forests Forever Fund (TFFF) to provide funding to countries that commit to preserving their forests.

    (Reporting by Olivia Le Poidevin; additional reporting by Ali Withers; editing by Mark Heinrich)

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