April 22, 2021 – The Secretariat of the Architecture for REDD+ Transactions (ART), hosted by Winrock International, welcomes today’s announcement of the Lowering Emissions by Accelerating Forest finance (LEAF) Coalition, a public-private initiative which aims to raise global climate ambition and mobilize at least $1 billion in results-based finance for the protection of tropical forests.
The LEAF Coalition includes initial participation from the governments of Norway, the United Kingdom, the United States, and leading companies including Amazon, Airbnb, Bayer, Boston Consulting Group, GSK, McKinsey, Nestlé, Salesforce, and Unilever. LEAF aims to expand to include support from additional countries and companies in the months ahead.
The LEAF Coalition is launching a Call for Proposals (CFP) to provide substantial financial support to tropical and subtropical countries that successfully reduce emissions from deforestation and forest degradation. The initial CFP is expected to help catalyse significant reductions of greenhouse gas (GHG) emissions through a combination of forward purchase agreements and floor price commitments at USD 10 per tonne for at least 100 million metric tonnes of CO2. Proposals must meet the ART-TREES standard requirements and ensure the full and effective participation of relevant stakeholders — in particular, indigenous people and local communities.