Costa Rica Formalizes US$ 10 Million Agreement for Forest Emission Reductions

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    More than US$ 10 million would receive Costa Rica to finance activities that promote more emission reductions.

    This will happen after the signing of a memorandum in accordance with the country and the Emergent climate organization, with the intention of entering a payment contract for reductions of forest emissions (ERPA) in March 2023. Emergent is a non -profit intermediary that interacts among countries with tropical forests selected by the private sector to mobilize resources that are used in reduction of deforestation emissions.

    For this reason, the country began in October 2022 the process of validation and verification of reduced forest emissions during 2017. And it is the country, the country managed to reduce around 1.8 million tons of CO2 eligible for compensation in 2017.

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