Sileshi on the occasion said the agreement will contribute to Ethiopia's efforts to build climate resilient green economy. Ambassador Kvalheim on his part said the partnership is to contribute to reduction of greenhouse gas emissions caused by deforestation and forest degradation, thereby supporting the development and implementation of Ethiopia's REDD+ Strategy.
Kvalheim said there is no specific budget for this partnership agreement; it is an agreement with result based payments for verified results that the parties will agree upon along the way.
The agreement is part of Norway's commitment in the Durban Declaration where it has pledged to support US$60 million to agriculture, forestry and energy sectors annually, the Ambassador said.
REDD Reducing Emissions from Deforestation and Forest Degradation is an effort to create a financial value for the carbon stored in forests, offering incentives for developing countries to reduce emissions from forested lands and invest in low-carbon paths to sustainable development.
“REDD+” goes beyond deforestation and forest degradation, and includes the role of conservation, sustainable management of forests and enhancement of forest carbon stocks.
Source: Ethiopian News Agency
No comments:
Post a Comment