Philippines' Potential Gain from COP30's Forest Financing Mechanism
The Philippines is expected to include forestry sector targets in its updated nationally determined contributions (NDCs) at the upcoming COP30 in Brazil.
The country aims to reduce greenhouse gas emissions by 75% under the Paris Agreement from 2020 to 2030, with forestry and land use contributing to this goal.
Tropical Forest Forever Facility (TFFF)
COP30 host Brazil will launch the TFFF, a $125 billion blended-finance mechanism, combining public, philanthropic, and private capital, to pay forest countries for maintaining standing tropical forests.
- The TFFF could benefit the Philippines, a deforestation-hit Southeast Asian country.
- Brazil, home to the Amazon, will host COP30 from November 10 to 21, 2025.
The Philippines' inclusion of forestry sector targets in its updated NDCs and the launch of TFFF at COP30 may provide an opportunity for the country to gain from forest financing mechanisms.
Author's summary: Philippines may benefit from COP30's forest financing mechanism.
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