Ghana has become the first country globally to sign a $50 million Emission Reductions Payment Agreement (ERPA) with Emergent Forest Finance Accelerator, part of the Lowering Emissions by Accelerating Forest Finance (LEAF) Coalition.
The deal, signed during COP28, involves payment for reducing up to five million metric tons of carbon dioxide equivalent, priced at $10 per tonne.
The LEAF Coalition, launched in 2021, aims to combat deforestation and forest degradation by providing large-scale, predictable finance to tropical and subtropical forest jurisdictions.
The agreement reflects Ghana’s commitment to climate action and complements existing initiatives like the Green Ghana Project and Ghana REDD+ Strategy. The global community is urged to support forest restoration and protection efforts.
Source: Dehotpress
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