Washington, DC (April 22, 2021) – Today, as part of the Leaders’ Summit on Climate, a group of governments and multinational corporation announced the Lowering Emissions by Accelerating Forest Finance (LEAF) Coalition, which seeks to reduce global greenhouse gas emissions by providing substantial financial support to tropical and subtropical countries that reduce emissions from deforestation and forest degradation.
The coalition includes the governments of Norway, the United Kingdom, and the United States, international companies, and Emergent which will facilitate transactions and serve as the coordinator.
The goal of the coalition is for government and private sector participants to pay for high-quality emissions reductions from tropical forests, verified against an independent standard. This public-private partnership is intended to mobilize finance needed to protect tropical forests, with an initial goal of raising at least $1 billion USD this year.