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

News October 25, 2023 / By: Ann Danaiya Usher

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.

Amazon HQ cropped.jpg — Norwegian aid financing aims to mobilise billions of dollars in capital from companies like Amazon for tropical forest protection. Photo of the Amazon Spheres, company headquarters in Seattle (Photo: Amazon)

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

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