Countries at COP 21 substantially increase funding for reducing emissions from deforestation & land use

(PARIS – November 30, 2015) Environmental Defense Fund (EDF) today welcomed the announcement of a joint commitment by Norway, Germany, and the United Kingdom to provide $1 billion per year until 2020* focused on payment for verified emissions reductions from forests and land use. (*Clarification 7:30 pm CET: Commitment is for $5 billion total (cumulatively) over 2015-2020 (a period of six years), with the annual amount reaching $1 billion by 2020.)

“This is a substantial addition to existing funding, and will truly take advantage of the emissions reductions potential of forests and lands. Reducing deforestation and forest degradation, along with restoration and reforestation of degraded lands, can reduce annual global greenhouse gas emissions by up to 30%, while providing multiple additional benefits such as stabilizing rainfall regimes, protecting biodiversity and securing the livelihoods of millions of indigenous and forest communities.”

•          Steve Schwartzman, Senior Director, Tropical Forest Policy

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