Forests Are Major Target of Climate Mitigation
Forests straddling the equator are critical to a stable climate because they store vast amounts of carbon, and a new study finds that the U.S. and four other developed countries are spending billions of dollars to keep those forests intact.
An analysis of how the U.S., Japan, Germany, France and Norway have donated money to climate change mitigation efforts in the developing world since 1998 found that protecting carbon-rich forests is among those countries’ highest priorities, according to the study published this week in the Journal of Sustainable Finance and Investment.
Using data from the Organisation for Economic Co-operation and Development, or OECD, the University of East Anglia study found that in 2014 alone, the five top-donating countries spent $11.5 billion in 2014 for climate-related projects, including forest protection, electric transmission line construction, renewable energy and building railways.
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