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The effects of climate change are already being seen throughout the world, and a fundamental change in the world’s economy will be needed if the planet is to survive. Developing countries will be among those most affected by climate change; yet they are also the least powerful in mitigating climate change. As the world recovers from the COVID-19 pandemic and simultaneously adjusts to a new climate reality, CGD will explore the role will climate financing can have in assisting developing countries adapt to whatever economic order may emerge. How can development partners and international financial institutions best aid developing countries confronting the challenges of climate change? How can the COVID-19 recovery support the changes needed for long-term resilience and sustainability?
Why Forests? Why Now? draws upon science, economics, and politics to show that tropical forests are essential for climate stability and sustainable development, that now is the time for action, and that payment-for-performance finance is a course of action with great potential for success.
It’s 2030 and instead of racing toward the brink of climate catastrophe the world has begun to back away. Annual global emissions of heat-trapping gasses have fallen two-thirds—faster than anybody had dared to hope as recently as a dozen years ago—with continued steep reductions ahead.