N4C supports new LEAF coalition to provide finance for tropical forest countries
Thursday 22nd April
The Nature4Climate coalition is delighted to see the announcement today from the LEAF Coalition to provide results-based finance for tropical forest countries – to raise ambition to protect forests and reduce emissions on a scale in line with the Paris Agreement.
There is no way that we get to 1.5 degrees without massive reductions in tropical deforestation, and this initiative brings together public and private finance on a scale that will get to $1 billion in the first call for proposals this year, providing essential funding for those tropical forest countries and subnational jurisdictions that demonstrate reductions in forest loss and emissions.
The governments of the US, UK and Norway are behind this effort, supported by Emergent which will provide a platform to facilitate the transactions. The companies participating in this launch phase of the coalition, including
Amazon, Airbnb, Bayer, Boston Consulting Group, GSK, McKinsey, Nestlé, Salesforce, and Unilever, have committed to setting science-based targets – with a public commitment to mid-century net zero targets – as well as to making these supplemental and voluntary contributions to global climate action. This sets a great precedent for demonstrating how companies can both decarbonize their own operations and supply chains and invest in nature-based solutions for the benefit of people and the planet.
The emissions reductions associated with LEAF (Lowering Emissions by Accelerating Forest finance) will be issued by the ART/TREES standard that addresses integrity issues such as safeguards, reversals, leakage, verification, and accounting. There is also a commitment to ensure the full and effective participation of Indigenous Peoples and local communities prior to the conclusion of any purchase agreements.
For further information, visit the LEAF website.
About Nature4Climate: Nature4Climate (N4C) is an initiative of the United Nations Development Programme (UNDP), UN-REDD, UNEP, the Convention on Biological Diversity (CBD), the International Union for Conservation of Nature (IUCN), Conservation International (CI), The Environmental Defense Fund (EDF), The Nature Conservancy (TNC), Wildlife Conservation Society (WCS), Woods Hole Research Center, World Business Council for Sustainable Development (WBCSD), World Resources Institute (WRI), WWF, We Mean Business, the Food and Land Use Coalition, Youth4Nature, Global Mangrove Alliance and Global Wildlife Conservation. N4C aims to increase investment and action in nature-based solutions in support of the 2015 Paris climate agreement, working to catalyze partnerships between governments, civil society, businesses and investors based on the urgency to protect, restore and fund nature-based solutions. N4C believes in the importance of integrating nature into all government and private-sector decision-making. We are looking for natural climate leaders all over the world. Please join the conversation #naturenow #naturepositive @nature4climate or get in touch.