PNG secures K259m climate deal to protect forests, support communities
Papua New Guinea has secured a major climate financing deal worth US$63.4 million (about K259.8 million), marking one of the country’s largest payments to date for protecting forests and cutting carbon emissions.
The funding agreement was signed between the Climate Change and Development Authority (CCDA) and the United Nations Food and Agriculture Organization (FAO) under the Green Climate Fund’s Results-Based Payment programme. The payment recognises PNG’s efforts to reduce greenhouse gas emissions through forest protection between 2014 and 2016.
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| PNG secures K259m climate deal to protect forests, support communities |
Approval for the funding was granted earlier this year by the Green Climate Fund Board during its meeting at APEC Haus in Port Moresby, paving the way for the formal signing and implementation phase.
Under the agreement, FAO will serve as the accredited entity responsible for managing and releasing the funds in accordance with GCF requirements, while CCDA will lead coordination and oversight at the national level.
Based on the REDD+ Benefit Sharing Guidelines released in 2023, 60 per cent of the funding will be directed towards improving livelihoods for forest-based communities, ensuring people living closest to the forests benefit directly from conservation efforts.
CCDA Acting Managing Director Ms Debra Sungi said the agreement reflected years of work by government agencies, partners and communities in protecting PNG’s forests.
“Papua New Guinea is privileged to receive this landmark funding of USD 63.4 million for protecting our forests and reducing emissions. It is a testament to the collective efforts of government agencies, partners like FAO, and local communities who continue to conserve our natural resources. Now that the agreement has been signed after a lengthy negotiation process, implementation must begin without delay so our people and the country as a whole can benefit,” Ms Sungi said.
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