Humanity is in an existential crisis, but forests can provide 27% of the solution to help avert climate catastrophe. However, we are off track. Measured against a milestone of paying for one gigaton of high-integrity emissions reductions from forests by 2025, current public and private commitments are only at 24%.
What do we need to scale up forest action now?
- Incentives: a boldly increased forest carbon floor price of USD30-50 and sufficient volume of payments would unlock supply and leverage demand.
- Investment: Accelerated upfront finance for REDD+ readiness and implementation.
- Integrity: High integrity – with robust quantification, mechanisms to deal with leakage and reversals, and strong adherence to safeguards, among others, is key for ensuring real emissions reductions.
- Equity: Effective and equitable participation and benefits sharing, with indigenous peoples, local communities, and women as partners and not just beneficiaries must be the foundation of forest actions and finance.