$100 Million Donated to Protect Rainforests

Member countries of the World Bank’s Forest Carbon Partnership Facility (FCPF) have pledged more than $100 million to help stop deforestation and fight climate change.

The pledge came during the FCPF’s first annual general meeting which was held this week.

“It is heartening to know that despite the current financial situation, countries around the world understand that we cannot delay action on battling climate change,” said Mark Tercek, president and CEO of The Nature Conservancy, which serves on the FCPF panel. “Forest protection is one of the most cost-effective methods available to fight climate change. If we don’t take action now, climate change ultimately will have a much greater impact on the global economy and the natural resources we all depend upon for survival”.

Tercek also said “Right now, developing countries can generate more money from cutting down their forests than from keeping them standing,”

“The Forest Carbon Partnership Facility will bring developed and industrialized countries together — along with forest communities, indigenous groups, the private sector and civil society — to establish a financial value for the carbon stored in standing forests” he continued.

About the FCPF

The Forest Carbon Partnership Facility (FCPF) was first launched at the Bali Climate Meeting on December 11,  2007.

It was created because “forests are more important left standing than cut”. FCPF aims to reduce deforestation and forest degradation by compensating developing countries for carbon dioxide reductions realized by maintaining their forests.

FCPF members, which consist of government organizations from around the world, make up what is known as the “Participants Committee”. The member countries include Australia, Bolivia, Costa Rica, Democratic Republic of Congo, France, Gabon, Germany, Ghana, Guyana, Japan, Kenya, Madagascar, the Netherlands, Norway, Panama, Switzerland the United Kingdom, the United States and Vietnam.

Appointment of The Nature Conservancy

During this week’s meeting, The Nature Conservancy (TNC), which was a founding member of the FCPF, was also appointed to serve on the governing panel. This makes TNC the only non-governmental organization to serve on the panel.

TNC had also previously pledged $5 million dollars to FCPF at its launch during the Bali Climate Meeting.

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