缅北禁地

7th edition of Forest Financing Quarterly Highlight released

This week, the of the UNFF Clearing House on Forest Financing Quarterly Highlight newsletter was released. The newsletter provides a space to share information about recent developments, upcoming opportunities, learning materials, and other updates related to financing for forests.

The current edition highlights key developments at the UNFCCC COP28 the implications they have for forest financing. Climate finance discussions were a major highlight in Dubai with the agreement to operationalize the loss and damage fund to help compensate vulnerable nations for the impact of climate change. In addition, the global stocktake emphasized the current gap in climate finance and the importance of reforming the multilateral financial architecture and accelerating establishment of new and innovative sources of finance. Amongst the many announcements and pledges at COP 28, Brazil proposed the creation of the Tropical Forests Forever fund with an initial fundraising target of USD 250 billion and The World Bank announced a roadmap for growth of high-integrity carbon markets, including a target to produce up to 126 million forestry credits by 2028 through the Forest Carbon Partnership Facility.