Eight Latin American countries have announced an initiative to restore 20 million hectares of degraded forest and farmland, reports Reuters.

Argentina, Colombia, Chile, Costa Rica, Ecuador, Guatemala, Mexico and Peru as well as 2 regional conservation programs have joined the 20x20 Initiative and committed to actions that will store carbon in natural vegetation and curb greenhouse gas emissions.

Projects will include agroforestry, restoration with native species and efforts to avoid deforestation. These activities could be used by countries to comply with future targets to cut emissions.

The article outlines how several countries in Latin America have seen a rapid reduction in forest area in recent years as a result of the expansion of logging, agriculture and mining activities. It is estimated that about half of the carbon emissions in Latin America and the Caribbean come from land use, land use change and forestry.

The 20x20 Initiative was launched in Lima, Peru during the UN Climate Change talks. It has been funded initially with 365 million dollars from private investors, including Althelia Climate Fund, Moringa Fund, Permian Global, Terra Bella and Rare.

Read the full story: Latam countries launch plan to store carbon, fight global warming