The first full day of the climate talks in Paris included a major announcement when Norway, Germany and the UK jointly pledged $5 billion to reducing deforestation in tropical forest countries over the next five years.
At a press event today, Norway, Germany and the United Kingdom entered into a joint agreement pledging US $5 billion to reduce carbon emissions caused by tropical deforestation, known as REDD+ (Reducing Emissions from Deforestation and Forest Degradation) under the UNFCCC. The countries intend to shell out around $800 million per year starting in 2015, with finance reaching $1 billion per year by 2020.
“We’re here to witness an extraordinary and diverse group of world leaders affirm their political will for strong, collective and urgent action to reduce greenhouse gas emissions from forests through partnerships that put people right at the heart of action on climate change,” Mary Robinson, the UN’s Secretary General’s Special Envoy on Climate Change, said during a press event at the COP.
Read the rest of this article on EcosystemMarketplace.com