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Post at: Aug 19 2021

LEAF (Lowering Emissions by Accelerating Forest Finance) Coalition

Recent Context

  • Recently, LEAF (Lowering Emission by Accelerating Forest Finance) coalition was announced at the leader summit on climate, 2021.
  • LEAF coalition came up with a $ 1 billion fund plan that shall be offered to countries committed to arrest the decline of their tropical forest by 2030.
  • It will be one of the largest ever public- private efforts to protect tropical forests.

About LEAF Coalition

  • The LEAF coalition was launched on April 22, 2021 by an initial group of governments (The United States, The United Kingdom & Norway) and leading companies.
  • A country willing to participate would need to fulfill certain predetermined conditions laid down by the coalition.
  • The result- based financing model will be used in LEAF.

Objectives of the LEAF Coalition

Reducing Emission from Deforestation and Forest Degradation (REDD+)

  • REDD+ was created by the United Nations Framework Convention on Climate Change (UNFCCC).
  • It monetised the value of carbon locked up in the tropical forests of most developing countries, thereby propelling these countries to help mitigate climate change.
  • REDD+ aims to achieve climate change mitigation by incentivizing forest conservation.

Tropical Forests

  • Tropical forests are closed conopy forests growing within 28 degrees north or south of the equator.
  • They occur in very wet places, receiving more than 200 cm rainfall per year, either season wise or throughout the year.
  • Temperatures are uniformly high-between 20°C- 35°C,
  • Such forests are found in Asia, Australia, Africa, South America, Central America, Mexico and on many of the pacific islands.

Conclusion

  • Implementation of the LEAF coalition plan will help pump in fresh rigour among developing countries like India.
  • It will help the developing countries to reduce deforestation.
  • It will help in meeting global climate, biodiversity and sustainable development goals (SDGs).

 @ Yogesh Pratap Singh


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