Kolkata/Geneva, May 17th, 2019: The World Economic Forum’s Tropical Forest Alliance annual meeting, which concluded in the Bogotá, capital of Colombia has seen a number of commitments that will contribute to the Alliance’s goal of protecting the world’s tropical rainforests. The meeting took place the same week world scientists warned that deforestation was one of the key drivers of ecological collapse, with up to 1 million species at risk of extinction (according to the Intergovernmental science-policy Platform on Biodiversity and Ecosystem Services – IPBES Report).
The present meeting convened over 200 leaders from government, business and civil society and was co-hosted by the Colombian government. With over 50% of its land area forested, Colombia has the second-highest biodiversity density in the world after Brazil.
TFA 2020 is a global public-private partnership, its governance serving the needs of partners from three sectors: business, government, and civil society. Specifically, TFA 2020 is committed to reducing tropical deforestation related to key global commodities by 2020, starting with soy, beef, palm oil, and paper and pulp. Its governance has this mission at its core.
On a similar note in March 2019, Brazil became the first country to receive financial resources from the Green Climate Fund (GCF) for having successfully reduced greenhouse gas (GHG) emissions from deforestation in the past. It is estimated that the country reduced a total of 6,125,501,727.00 tCO2e of emissions from deforestation in that area between 2006 and 2015.
The payment from the GCF is based on results achieved by Brazil in the Amazon biome between 2014-2015, and which have been reported and validated by experts from the United Nations Framework Convention on Climate Change (UNFCCC). This is the essence of REDD: a mechanism to reward countries for having reduced their deforestation.
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