African governments are developing new ways to finance the protection and restoration of forests, providing practical examples of how forest finance can move from promising models to delivery at scale, according to the first Progress Report of the Forest Finance Roadmap launched at the Forest & Climate Leaders Partnership (FCLP) Forest Finance Day during Climate Week NYC.
The global assessment finds that forest finance is beginning to move and credible mechanisms capable of scaling are gaining momentum, but the pace and scale of change remain below what is required to halt and reverse forest loss by 2030. The Roadmap was created to help change the economics of forest protection and close an estimated US$66.8 billion annual forest finance gap. Forests currently receive less than one per cent of global climate finance despite offering around one fifth of the world's cost- effective mitigation potential. (Press Release)
