LatinNews Daily - 14 December 2020

* Costa Rica has signed a new agreement with the World Bank’s (WB) Forest Carbon Partnership Facility (FCPF), that will reward local communities and other stakeholders for their efforts to reduce carbon emissions from deforestation. Under the Emission Reductions Payment Agreement (ERPA), the FCPF commits up to US$60m to purchase verified reductions of 12m tonnes of CO2 emissions achieved until 2025 through Costa Rica’s emission reductions programme. According to the WB, Costa Rica’s Emission Reductions Programme aims to increase the nationwide impact of public policies that have worked over the last 30 years to protect the country’s forest landscapes, which stretch across more than half of Costa Rica’s 5.1m hectares. This includes strengthening the governance of national protected areas (which cover 26% of the country’s territory), and expanding national programmes for sustainable forest management, fire management, and landscape restoration. It also aims to expand the country’s Payment for Environmental Services programme, which provides incentives to farmers or landowners in exchange for managing their land to provide an ecological service, among other things. Following Chile, Costa Rica is the second country in Latin America and the Caribbean to sign an ERPA with the FCPF.

End of preview - This article contains approximately 194 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial