At the Leaders Summit on Climate 2021, the LEAF (Lowering Emissions by Accelerating Forest Finance) Coalition was announced. It will be one of the most significant public-private partnerships in the HISTORY of tropical forest conservation. It intends to raise at least USD 1 billion in funding for countries that are committed to protecting their tropical forests.
About LEAF Coalition:
It is a collaboration of the governments of the United States, the United Kingdom, and Norway.
To participate, a country must meet certain predetermined conditions imposed by the Coalition.
LEAF will employ the results-based financing model.
Reducing Emissions from Deforestation and Forest Degradation:
+ seeks to mitigate Climate Change by incentivizing forest conservation.
It monetizes the value of carbon locked up in most developing countries’ tropical forests, propelling these countries to help mitigate climate change.
The UN Framework Convention on Climate Change (UNFCCC) established REDD+.