More than 25 countries at the COP27 climate talks on Monday launched a group they said would ensure they hold each other accountable for a pledge to end deforestation by 2030, and announced billions of dollars to finance their efforts.
and H&M Group signed up to a separate initiative, The LEAF Coalition, launched at COP26, in which governments and companies pay countries with tropical and subtropical forests for emissions reductions.
South Korea also agreed to be the first Asian government to provide finance for the coalition, joining founders Britain, Norway and the United States. Other initiatives towards meeting the 2030 forest pledge also announced incremental progress at the opening of COP27. But despite a promise to pay most of the money directly to local communities, roughly half of the funds were routed through international nongovernmental organisations. Only 7% of went to community-led groups, which the coalition said needs to be corrected.
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