Chile Secures $5.1M from World Bank for Cutting 1.03M Tons of Carbon Emissions

Chile has received $5.1 million from the World Bank’s Forest Carbon Partnership Facility (FCPF) for cutting 1.03 million tons of carbon emissions through sustainable forest management, marking a significant milestone in its climate action efforts. The Emission Reductions Program focuses on six climate-vulnerable regions and emphasizes support for women, Indigenous Peoples, and small property owners. This initiative could potentially unlock up to $26 million for reducing 5.2 million tons of emissions, with additional financing from the Green Climate Fund. Officials highlighted that this program not only strengthens conservation efforts but also promotes social equity by ensuring that vulnerable communities benefit from climate action. Chile’s approach serves as a model for integrating climate resilience with social support, reflecting its commitment to sustainable practices and decarbonization. Resources: https://esgnews.com/morgan-stanley-citi-bank-of-america-join-others-in-exiting-net-zero-banking-alliance/