The UK, US and Norway have pledged a combined total of $280 million (£173m) to help protect forests and reduce greenhouse gas emissions.
The announcement was made at the COP 19 climate change conference in Warsaw. The money will go towards the BioCarbon Fund Initiative for Sustainable Forest Landscapes – a new partnership between the public and private sectors.
The fund is part of the UN’s Reducing Emissions from Deforestation and forest Degradation (REDD+) programme and is also being supported by the World Bank.
Energy Secretary Ed Davey said: “This century, tree cover the size of Greenland has been destroyed by logging, fire, disease and storms. We have the opportunity now to pull forests back from the brink – reducing emissions and safeguarding the wildlife, agriculture and other livelihoods that depend on the forests.”
Rachel Kyte, Vice President for Sustainable Development at the World Bank said: “The fate of the climate, forests and agriculture are bound together. If agriculture and land use change continue to produce up to 30 per cent of global greenhouse gases, this will mean further disaster and disruption from climate change. That’s why the new BioCarbon Fund Initiative for Sustainable Forest Landscapes is so important.”