The ambitious, yet crucial, climate target of 1.5°C will remain out of reach without drastically scaled-up finance from the private sector. In 2021, UN-REDD engaged in a major global initiative to mobilize private funding for tropical forests. Launched during the Leaders’ Summit on Climate, and convened by the US government in April, 2021, the coalition for Lowering Emissions by Accelerating Forest Finance (LEAF) announced an initial record pledge of $1 billion in public-private finance for countries and jurisdictions to protect tropical forests. Five national and eight sub-national jurisdictions have now submitted successful proposals to the LEAF Coalition. Seven of the jurisdictions submitting successful proposals to LEAF were technically assisted by UN-REDD, and four of those jurisdictions have signed letters of intent to move towards emission reductions purchase agreements by COP27 at the end of 2022.
With over a decade of experience, the UN-REDD Programme is uniquely positioned to support ambitions that unleash the full potential of forest solutions to climate change. UN-REDD has set a mid-decade goal of helping to realize one gigaton of emission reductions from the forest and land-use sectors per year, together with helping to mobilize $5 billion of REDD+ results-based finance, including RBPs, carbon market transactions and other schemes under Article 6 of the Paris Agreement. Since 2008, the UN-REDD Programme has supported 65 countries in designing national and sub-national REDD+ policies and on-the-ground interventions, as well as facilitating the identification and establishment of financial arrangements to capture and manage results-based financing. UN-REDD has been instrumental in establishing good practices and codifying knowledge on landscape approach and planning, forest tenure, indigenous peoples’ rights, financing and private sector, forest monitoring systems and MRV, linking REDD+, the Paris Agreement, NDCs and the SDGs, REDD+ funding mechanisms, safeguards and gender. From the Glasgow climate agreements and pledges, UN-REDD is ready to help countries harness the growing amount of public and private financing available for forest solutions as they are a catalyst for transformations into low-carbon, socially inclusive and sustainable pathways.
The architecture for a new era in forest solutions and REDD+ action is now in place. The Glasgow Leader’s Declaration on Forests and Land Use, agreements on the Paris Rulebook, proof of concept for REDD+ readiness and Results-based Payments, GCF engagements in the REDD+ agenda, expanding public-private partnerships for forest financing and emerging carbon markets – all intend to serve forest solutions. The time for action is now. Together, FAO, UNDP and UNEP stand ready as the UN-REDD Programme continues to support countries in leveraging the full potential of forests to keep the 1.5°C goal alive – for people and for the planet.
Food and Agriculture Organization of the United Nations
Executive Coordinator - Environmental Finance
Bureau for Policy and Programme Support (BPPS)/Global Policy Network
United Nations Environment Programme