Norwegian aid-financed guarantee to coax Wall Street firms into a new tropical forest carbon market

The Norwegian Climate Ministry has signed a NOK 2.5 billion agreement for a guarantee scheme that aims to kick start a market in tropical forest carbon credits, targeting Wall Street giants like Amazon, Unilever, and Nestlé. Norway and the United Kingdom, also a funder, are offering countries a guaranteed price of USD 10 per tonne for carbon credits. But this new market is moving slowly, and Norway is getting impatient.