INTERNATIONAL SUPPORT GROWS FOR FOREST CARBON FINANCING

11/07/2016

A new report by Forest Trends concludes that within the past year, governments and private companies from around the world committed $888 million in new funds for forest initiatives to keep the carbon-storage potential of forests intact. As a result, forest carbon projects are estimated to protect approximately 28 million hectares of forest, about twice the size of New York state, and enough to negate about 87.9 million metric tons of carbon dioxide. Many cite the inclusion of REDD+ as an independent article in the Paris Agreement as the impetus that has encouraged governments to focus attention on protecting forests. However, not all funds have been dedicated to REDD+ initiatives. For example, moving funds through obligatory and voluntary carbon markets has received about 20% of the new forest financing. For the full story, see https://news.mongabay.com/2016/11/nearly-1-billion-in-forest-carbon-finance-committed-in-2015/.