An agreement reached on Friday on finance for REDD+ forestry projects in developing countries has been hailed as a high-point of last week’s UN climate talks in Warsaw and brings to a close seven years of discussions on the emission reduction scheme.
The final package of deals on REDD+ places the Green Climate Fund in a key role, channelling money to developing nations and helping catalyse other sources of finance.
This is a shift away from the market-based approach that dominated discussions a couple of years ago but the door has been left open to other forms of funding.
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