Dominican Republic and World Bank sign deal to reduce forest carbon emission
With this Emission Reductions Payment Agreement (ERPA) in place, the Dominican Republic is expected to reduce 5 million tons of forest-related carbon emissions. World Bank | Updated: 13-05-2021 11:16 IST | Created: 13-05-2021 11:16 IST
The country’s Emission Reductions program will work with the government and civil society to strengthen sustainable agroforestry initiatives that aim to curb agricultural expansion into forest areas. Image Credit: Wikimedia
The Dominican Republic s Ministry of Finance and Ministry of Environment and Natural Resources signed a landmark agreement today with the World Bank s Forest Carbon Partnership Facility (FCPF), unlocking payments of up to US$25 million for verified carbon emission reductions between now and 2025 through the country s emissions reduction program.
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Dominican Republic Signs Agreement with World Bank to Curb Carbon Emissions and Reduce Deforestation
The Dominican Republic’s Ministry of Finance and Ministry of Environment and Natural Resources signed a landmark agreement today with the World Bank’s Forest Carbon Partnership Facility (FCPF), unlocking payments of up to US$25 million for verified carbon emission reductions between now and 2025 through the country’s emissions reduction program.
“This agreement is a country achievement, a reason for celebration and progress in the fight against the challenges of climate change and is the result of four years of preparation of the Program for the Reduction of Emissions from Deforestation and Forest Degradation (REDD+), which will be implemented by the Ministry of Environment and Natural Resources, with the direct involvement of the Ministry of Agriculture and the Ministry of Economy, Planning and Development (MEPyD), ” said Milagros De Camps, Vice Minister of Int
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