FONAFIFO Costa Rica has invested 15 billion in forest conservation

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During 2020, the Ministry of Environment and Energy (MINAE) and the National Forest Financing Fund (FONAFIFO) Costa Rica injected more than ₡ 15 billion to the Costa Rican forest sector through their programs, to private initiatives for the protection and sustainable use of forests and plantations.

This was announced by authorities of both institutions in the sixth edition of accountability, presented this Tuesday – virtually – with the aim of making the figures known to government representatives, actors in the forestry sector, regents, organizations, territories indigenous people and the general public.

The Deputy Minister of the Environment, Franklin Paniagua, indicated that there are multiple benefits that FONAFIFO brings to the economic reactivation of the country, “the historical legacy of a program such as Payment for Environmental Services (PES) is indelible,” he said.

He specified that “through this tool, small and medium-sized producers throughout the national territory have benefited thanks to the formalization of 567 new contracts for 2020. And their portfolio of current contracts exceeds 7 thousand beneficiaries, among which stand out populations vulnerable such as women and inhabitants of indigenous territories ”, he added.

For his part, Jorge Mario Rodríguez, executive director of FONAFIFO, highlighted that the institution’s actions contribute in turn to compliance with axis 10 of the National Decarbonization Plan, which establishes that “rural, urban and coastal territory will be managed oriented to conservation and sustainable use, increasing forest resources and ecosystem services based on nature-based solutions ”.

“We seek to promote the forestry sector as a relevant actor in the decarbonization strategy and rural economic development, by protecting biodiversity, maintaining and increasing forest cover, contributing to the mitigation of greenhouse gas emissions and protection of the water resource ”, he added.

Rodríguez explained that the forests protected under programs contain just over 136 million tons of CO2 equivalent, and that 987,556 tons of CO2 equivalent are mitigated in current PES contracts in the modalities of reforestation, regeneration and SAF.

The report projects that in 2021, the institution, as a member of the technical secretariat that executes REDD + actions, will culminate in a negotiation process of two emission reduction purchase-sale contracts, which will allow the attraction of income to the country for a higher amount to $ 114 million through the Carbon Fund and the Green Climate Fund.
Similarly, these actions allowed to far exceed the goal established for the institution in the current National Development Plan, achieving recognition for payment for results of 9.4 million tons of carbon dioxide.


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