African countries are turning to new financing models to protect and restore their forests as investment continues to fall significantly short of what is required to meet global forest protection targets by 2030.
A progress report from the Forest & Climate Leaders’ Partnership estimates an annual forest finance gap of $66.8 billion. Forests account for about 20% of cost-effective climate mitigation potential but currently receive less than 1% of global climate finance.
The report highlighted approaches combining domestic government budgets, international development funding and private investment. Africa has about 663 million hectares of forest, representing roughly 16% of the world’s forest area.
Kenya has secured $229 million in new external forest financing, while Ethiopia spends between $40 million and $80 million annually through its Green Legacy Fund. Nigeria is also preparing a forest investment package aimed at coordinating funding for forest and biodiversity protection.
In the Congo Basin, a $290 million payments-for-ecosystem-services pipeline is being developed, with an ambition to mobilise $2 billion by 2035.
The financing push reflects growing efforts to make forest conservation economically sustainable while supporting communities whose livelihoods depend on forest resources.
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