The Global Carbon Council (GCC) and the Asian Forest Co-operation Organisation (AFoCO) have signed a memorandum of understanding (MoU) to strengthen co-operation in addressing global climate change by promoting Nature-based solutions and fostering an enabling, high-integrity carbon market ecosystem across Asia.
The MoU was signed during a formal ceremony by Dr Yousef Alhorr, founding chairman of GCC and Dr Chongho Park, executive director of AFoCO.
The partnership was initiated not only in response to UNEP’s inaugural State of Finance for Forests report, which highlights the significant global shortfall in forest and environmental finance, but also to align with broader international efforts aimed at forest restoration, resilience, and long-term sustainability. The partnership seeks to leverage carbon-based incentives in line with the Paris Agreement, particularly Article 6, as a means to mobilise private sector engagement through internationally aligned carbon market mechanisms.
According to the report, annual forest investments must more than triple from $84bn in 2023 to $300bn by 2030 to meet global climate and biodiversity targets. Currently, the world faces a forest finance gap of $216bn per year, underscoring the need for scalable and credible market-based solutions. To this end, the agreement between GCC and AFoCO establishes a co-operative framework to support sustainable, verifiable, and impactful forestry and climate initiatives across the region.
Through this MoU, the two organisations will promote collaboration on Public–Private Partnership based Nature-based Solutions carbon incentive programmes, aligned with the Land Use, Land-Use Change and Forestry initiatives implemented by AFoCO to strengthen climate change mitigation, adaptation, and resilience.
The partnership aims to ensure that outcomes from nature-based solutions projects are transparent, credible, and aligned with international standards, while contributing to community resilience and long-term sustainability through AFoCO’s member country cooperation platform, where relevant and appropriate.
Dr Alhorr stated: “Forests are our most effective natural defense against global warming. Recent data shows that Asian forest sinks are already removing nearly one billion tonnes of CO2 every year, making the region one of the most productive carbon absorbers on the planet. By scaling Nature-based solutions through our partnership with the Asian Forest Co-operation Organisation, we are bringing together technical expertise, strong governance, and innovative carbon market frameworks to deliver measurable, high-integrity outcomes that benefit both people and the planet.”
Dr Chongho Park, executive director of AFoCO, added: “Our collaboration with the Global Carbon Council strengthens our ability to provide member countries with the tools, knowledge, and capacity needed to systematically scale sustainable forestry and nature-based projects. Together, we aim to create long-term positive impacts for communities, ecosystems, and the climate.”
Following the signing of the MoU, the two organisations will establish a joint working group to identify priority initiatives, co-ordinate technical support, and progressively implement the co-operation framework through targeted events, workshops, and joint activities.