Lowering Emissions by Accelerating Forest Finance (LEAF) Coalition

Why in news?

• At the recently concluded Leaders’ Summit on Climate in April 2021, LEAF Coalition, came up with a $1 billion fund plan that shall be offered to countries committed to arrest the decline of their tropical forests by 2030.

About the coalition:

• Lowering Emissions by Accelerating Forest Finance (LEAF) Coalition is a collective of the United States, United Kingdom and Norway governments which aims  to support countries committed to arrest the decline of their tropical forests by 2030.
• The Coalition aims to mobilize at least $1 billion in financing, kicking off what is expected to become one of the largest ever public-private efforts to protect tropical forests.
• LEAF was supported by transnational corporations (TNCs) like Unilever plc, Amazon.com, Inc, Nestle, Airbnb, Inc as well as Emergent, a US-based non-profit.
• The LEAF coalition initiative is a step towards concretising the aims and objectives of the Reducing Emissions from Deforestation and Forest Degradation (REDD+) mechanism.

Prelims Question

Consider the following statements regarding  of Lowering Emissions by Accelerating Forest Finance (LEAF) Coalition: 
1.It was formed by India along with Brazil and Canada.
2.It is supported by many transnational corporations.
Which of the above the statements is/are correct?
(a)1 only
(b)2 only
(c)Both 1 and 2
(d)Neither 1 nor 2

Answer to the Prelims Question