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Governments, companies announce plans for $US1B fund for tropical countries to slow deforestation

A new initiative to mobilize at least $1 billion to reward tropical countries for halting deforestation was announced April 22, Earth Day, at the Leaders Summit on Climate hosted by U.S. President Joe Biden.

The initiative, called the LEAF Coalition (Lowering Emissions by Accelerating Forest finance), will offer significant economic incentives for protecting tropical forests by selling carbon credits for avoided deforestation. Part of the goal is to prevent developing nations from having to choose between ecological integrity and economic progress.

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