Costa Rica First to Negotiate Sale of Forestry Carbon Credits

7 October 2013

The Government of Costa Rica and the Forest Carbon Partnership Facility (FCPF) signed today a Letter of Intent (LOI) to negotiate an Emission Reductions Payment Agreement (ERPA) worth up to $63 million. This would make Costa Rica the first country in the world to access large-scale performance-based payments for conserving its forests, regenerating degraded lands, and scaling up agro-forestry systems for sustainable landscapes and livelihoods.

The signing ceremony of the Letter of Intent (LOI) was presided by Laura Chinchilla, President of Costa Rica, and Fabrizio Zarcone, World Bank Representative for Costa Rica. The LOI was signed by Rene Castro, Minister of Environment and Energy, and Laurent Msellati, World Bank Sector Manager in the Sustainable Development Department for the Latin America and the Caribbean.

Read more from Teatro Natural here