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LatinNews Daily - 05 November 2021

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In brief: Costa Rica receives funds to protect forests

* Costa Rica’s President Carlos Alvarado has announced that the country will receive US$20m through two agreements recognising the contribution of Costa Rican forests in the fight against climate change. He said that US$10m corresponds to a letter of intent signed by Costa Rica and the LEAF Coalition which was launched in April 2021 by the US, UK, Norway and 19 private companies. The LEAF Coalition seeks to mobilise at least US$1bn in finance to support tropical and subtropical forest jurisdictions in making substantial reductions in their emissions from deforestation. The second agreement corresponds to a bilateral agreement between Norway and Costa Rica which is due to be signed next week and recognises efforts by Costa Rica’s forest sector from 2017-2021 which enabled the country to capture 5.2bn tonnes of carbon dioxide.