GCF on Wednesday approved a funding proposal submitted by the Japan International Cooperation Agency (JICA) in coordination with the Vietnamese government, for a results-based payment project under the REDD+ mechanism.
REDD+ aims to reduce emissions from deforestation and forest degradation while promoting conservation, sustainable forest management, and enhanced forest carbon stocks via afforestation and natural forest restoration activities.
The funding will be reinvested to strengthen the policy system, institutional capacity, and enforcement of forest protection measures.
