Ecuador signs REDD agreement for payment for reductions of forest carbon emissions

Ecuador has demonstrated a high commitment to global efforts to mitigate climate change, by reducing its greenhouse gas emissions from deforestation and forest degradation, and promoting the conservation and sustainable management of forests and carbon stocks, said FAO.

The Governments of Norway and Germany have signed an agreement to cooperate with Ecuador to purchase Ecuador’s emission reductions and contribute $2.6 million to strengthening national capacities in Ecuador.

The payments are anticipated to be used to: finance REDD+ projects; strengthen forest governance; develop measurement, reporting and verification information; and support other national processes to reduce emissions.

The four-year agreement will be developed, in part, through the UN-REDD Programme, which is coordinated between the Food and Agriculture Organization of the UN (FAO), the UN Development Programme (UNDP) and the UN Environment Programme (UNEP).

Source | IISD