This is the first major climate deal to be reached during the COP26 climate summit, which saw over 100 world leaders commit to ending and reversing deforestation by 2030.

Brazil, which has cut down stretches of Amazon rainforest, was among the signatories on Tuesday.

Almost £14 billion ($19.2 billion) of public and private funds have been pledged.

Despite the move, experts warned that a previous deal in 2014 had “failed to slow deforestation at all” and that commitments needed to be kept.

The removal of trees contributes to climate change because forests absorb vast amounts of CO2, which is a warming gas.

A total of 110 leaders have made the “landmark” commitment, according to UK Prime Minister Boris Johnson, who is hosting the global meeting in Glasgow.

It is imperative that we stop the devastating loss of our forests and become nature’s custodians, not nature’s conquerors.

Bringing climate change under control requires the two-week summit in Glasgow.

Around 85% of the world’s forests are covered by the countries which have signed the pledge, including Canada, Brazil, Russia, China, Indonesia, the Democratic Republic of Congo, the US and the UK.

In addition to restoring damaged land, fighting wildfires, and supporting indigenous communities, some of the funds will be allocated to developing countries.

Deforestation was also removed from the global trade of food and other agricultural products, such as palm oil, soya, and cocoa, by 28 countries.

By cutting down trees to make space for livestock or crops, these industries contribute to forest loss.

Several of the world’s biggest financial companies – including Aviva, Schroders, and Axa – have also pledged to end investing in deforestation-related activities.

The Congo Basin rainforest is the second largest tropical rainforest in the world, and a £1.1bn fund will be established to protect it.

UC London professor Simon Lewis, an expert on climate and forests, said: “It is good news that so many countries are making political commitments to end deforestation.”

George Eustice, the UK’s Environment Secretary, said “when countries engage, we should be really positive”.

In 2014, when an attempt was made to get a forest commitment, neither Brazil, neither Russia, nor China participated.

Brazil has really engaged with us on this agenda. It’s a big step for them.”

On whether the agreement will be enforceable, Mr Eustice replied: “It doesn’t go as far as talking about enforcement mechanisms, that’s not the nature of these agreements.”

This pledge differs from others in that there is “the finance behind it”.

Joe Biden, US president, said he was “confident” the global pledge could be met, telling world leaders: “We can do this if we summon the will.”

Forest conservation and restoration will cost $9bn (£6.6bn) in the US.