By way of Stian Reklev WARSAW (Reuters) – U.N. negotiators on Friday agreed rules on financing forest projects in creating countries, paving the best way for multi-billion greenback investments from governments, funding companies and private companies in schemes to halt deforestation. The agreement on “results-based” funding for Decreasing Emissions from Deforestation and Forest Degradation (REDD) was a uncommon leap forward at the climate talks in Warsaw, the place negotiators are struggling to make progress in discussions on emissions cuts and local weather alternate assist. The deal was once “every other large step forward”, said Ed Davey, the British minister for energy and local weather alternate. Beneath the new principles, the fledgling Inexperienced Local weather Fund will play a key function in channeling finance for initiatives to host governments, who in flip should set up national agencies to supervise the money.
U.N. agrees multi-billion dollar framework to tackle deforestation
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