US special presidential envoy for climate, John Kerry. Picture: REUTERS/MAX ROSSI
Governments and companies taking part will pay countries with tropical and subtropical forests for emissions reductions, a move it hopes will help reduce and eventually end deforestation. “The LEAF coalition is a groundbreaking example of the scale and type of collaboration needed to fight the climate crisis and achieve net-zero emissions globally by 2050,” said US special presidential envoy for climate John Kerry.
With applications due by July 2021 and the aim of signing contracts before the end of the year, payments would be based on emissions reductions linked to reducing levels of deforestation or degradation, or by restoring forests, between 2022 and 2026.
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Governments and companies join forces to save world’s forestsThe LEAF coalition aims to raise an initial $1bn and will pay countries with tropical and subtropical forests for emissions reductions
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