UK announces £150m package to save tropical rainforests

Posted at March 15, 2021 » By : » Categories : News » Comments Off on UK announces £150m package to save tropical rainforests

Rainforest regions like the Amazon and Indonesian basins and communities vulnerable to climate change are set to benefit from a new £150 million government investment.

The funding is predicted to help protect 2.1 million hectares of rainforests, an area the size of Wales, from deforestation.

Funds are also forecast to remove 28 million tonnes of carbon dioxide from the atmosphere, equivalent to offsetting London’s entire emissions annually over the next 15 years.

Through the newly launched Mobilising Finance for Forests Programme, eligible projects could include those that promote transparent supply chains and introduce deforestation-free standards.

These might be eco-friendly projects like harvesting nuts, seeds and coffee sustainably, restoring lost forests and boosting crops to prevent soil erosion.

Energy Minister Anne-Marie Trevelyan said: “The impact of deforestation is devastating on those vulnerable rainforest communities, and on global efforts to combat climate change.

“And the health of the earth’s tropical forests is critical to the health of our planet, we need to do all we can to protect and preserve this vital ecosystem.

“Today’s new fund will ramp up investment in projects on the frontline of this effort, while also giving financial institutions the confidence they need to invest, which could attract and secure as much as £850 million from the private sector.”

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