Philippines' Potential Benefit from COP30's Forest Financing Mechanism
The Philippines is expected to include forestry sector targets in its updated nationally determined contributions (NDCs) at the upcoming COP30 in Brazil.
The country aims to reduce greenhouse gas emissions by 75% under the Paris Agreement from 2020 to 2030, with forestry and land use contributing to this goal.
Tropical Forest Forever Facility (TFFF)
COP30 host Brazil will launch the TFFF, a $125 billion blended-finance mechanism, combining public, philanthropic, and private capital to pay forest countries for maintaining standing tropical forests.
- Combines public, philanthropic, and private capital
- Pays forest countries for maintaining standing tropical forests
The TFFF is a significant opportunity for the Philippines to benefit from its commitment to reducing deforestation and promoting sustainable forestry practices.
Author's summary: Philippines may gain from COP30's forest financing mechanism.
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