We now want to take the opportunity to take stock over key progress made in 2022:
- The LEAF coalition has mobilized 1.5 billion dollars in funding – a 100% increase in financial support from the private sector.
- Volkswagen and H&M are the newest companies to join the LEAF coalition.
- The Republic of Korea is the newest country to contribute with financial support to the LEAF coalition.
- 3 countries have reinforced their intentions to sell high-integrity emission reductions through LEAF.
- 4 new Brazilian states signed LOI
During COP27 in november, the LEAF Coalition announced that it has increased the total amount of financial commitments for the purchase of high-integrity emission reductions to over USD 1.5 billion. This represents a 100% increase in private sector commitments since COP26.
The car manufacturer Volkswagen Group and the fashion retailer H&M Group are the latest global companies to join the coalition, the latter as the first Nordic company to take part in the initiative. With this, twenty-five of the largest companies in the world are now participating in LEAF. At the same time, the Republic of Korea was announced as the first country in Asia to contribute financially to the LEAF Coalition – joining Norway along with the US and UK.
On the supply side, four Brazilian states – Amapá, Amazonas, Mato Grosso og Pará, became the first subnational jurisdictions in the country to sign letters of intent to sell high-integrity emission reductions through LEAF. Meanwhile, the governments of Ecuador, Costa Rica and Nepal reinforced their commitments to sell credits through LEAF by signing Memorandums of Agreements, including roadmaps to sign binding purchase agreeements by the end of April 2023.
For more information, please visit The LEAF Coalition