The Green Gigaton Challenge presented at the 5th session of the United Nations Environmental Assembly (UNEA5)
February 19, 2021: Corporate and political decision-makers discussed how to translate growing interest in net zero & forest investments into concrete, sustainable climate action through the Green Gigaton Challenge. The Green Gigaton Challenge is a global initiative by Emergent and the United Nations REDD Programme (UN-REDD) – supported by the Environmental Defense Fund, Forest Trends and the Architecture for REDD+ Transactions – to catalyse funding for one gigaton of high-quality emissions reductions a year from forests by 2025.
The Green Gigaton Challenge brings together a coalition of public, private and philanthropic partners to channel funds into efforts led by national and subnational governments to reduce emissions from deforestation and forest degradation (REDD+). Through utilizing donor-funded floor prices for results-based payments and facilitating and leveraging private sector demand above these floor prices, the Green Gigaton Challenge will support forest countries to achieve their Nationally Determined Contributions (NDC) and increase ambition, while helping companies complement their internal emissions reductions with high-quality carbon credits.
For more information, visit www.greengigaton.com