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As the hot summer months come to an end here in Korea, the cool breeze of autumn has arrived.
This Fall, we look forward to engaging with our partners through the 3rd FAAF Forum, our annual gathering that provides updates on forest initiatives and expands opportunities for collaboration.
In this newsletter, we revisit the key activities carried out in the third quarter and introduce major events and programs planned for the fourth quarter.
If you have any questions or suggestions, please feel free to reach out at any time.
We wish you a healthy and fulfilling season.
Sincerely
AFoCO Secretariat
❗Tip❗ Click the 🔗 to read each news item in more detail
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FAAF Advances Efforts to Scale Up Forest Investment in Asia
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▶ On 3 July, AFoCO hosted the Climate Leaders Breakfast at the FKI Tower in Seoul, bringing together companies, financial institutions and NGOs to discuss ways to enhance private-sector participation in forest projects. Dr. Chongho Park, Executive Director of AFoCO, in his opening remarks highlighted the importance of public–private cooperation in addressing the climate crisis through forest-based solutions. Mr. Sunpil Jin, Vice-Executive Director of AFoCO, presented key achievements of FAAF, including progress in impact investment and expanded partnerships. Prof. Jong Ho Hong of Seoul National University then delivered a presentation, “Toward a Sustainable Korea in the Era of Climate Crisis and Carbon Neutrality”, emphasizing the critical role of forests. A subsequent open discussion provided an opportunity for participants to exchange perspectives on nature-based solutions with a focus on the forest sector. 🔗
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▶ On 1 July, AFoCO and the African Asian Rural Development Organization (AARDO) signed a partnership to support sustainable development in the agriculture and forestry sectors. 🔗
▶ On 4 August, AFoCO and the Rabobank Acorn team organized the first Carbon Removal Unit (CRU) incentive ceremony in Issyk Kul Province, Kyrgyzstan, with 35 participants, of whom six farmers received CRU incentive payments.🔗
▶ On 11 August, AFoCO conducted a two-week volunteer program with around 80 youth participants in the Bicol Region of the Philippines and in Terelj National Park in Mongolia, strengthening community engagement through tree planting and environmental activities in collaboration with Gyeonggi Province and Khaya International.🔗
▶ On 18 August, AFoCO implemented a two-week annual training program in Kazakhstan to enhance forest-fire preparedness through activities such as firebreak construction and drone-based fire monitoring. 🔗🔗
▶ On 8 September, AFoCO signed a Memorandum of understanding (MoU) with Yuhan Corporation, the Mongolia Forest Agency and Billion Trees (NGO) to support desertification prevention and carbon neutrality efforts in Mongolia.🔗
▶ On 11 September, AFoCO participated in the AVPN Hong Kong Conference to discuss blended finance, nature-based solutions and innovative financing models to expand private investment. 🔗
▶ On 15 September, AFoCO signed an MoU with IFSA Korea to strengthen the capacities of future forest professionals and promote youth engagement in climate action. 🔗
▶ On 15 September, AFoCO held the Annual Technical Workshop at the Seoul Botanic Park, where representatives from Member Countries discussed key challenges and solutions in project management. 🔗
▶ On 21 September, AFoCO worked with KT&G and local authorities to conduct an employee volunteer activity for the restoration of forest areas affected by wildfires in Kazakhstan. 🔗
▶ On 29 September, AFoCO and the National Institute of Forest Science (NIFoS) co-organized a two-day working group meeting to establish a living lab for mangrove ecosystem restoration and climate change adaptation.
▶ On 30 September, AFoCO planted linden trees in the buffer zone of the Gwangneung Forest Biosphere Reserve for its protection, in collaboration with Mapletree Korea, the Korea National Arboretum and IFSA Korea. 🔗
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▶ On 15 July, Viet Nam discussed a draft decree on forest carbon, which outlines requirements for issuing and purchasing carbon credits. 🔗
▶ On 31 July, the Philippine Department of Environment and Natural Resources signed an agreement with the Ayala Group for a tree-planting project targeting five million trees by 2028, expanding partnerships with the private sector. 🔗
▶ On 12 August, Raja Juli Antoni, Vice-Minister of Environment and Forestry in Indonesia, announced plans to include forest carbon in the national carbon trading market and to mobilize private investment through the voluntary carbon market. 🔗
▶ On 18 August, Hai Phong City announced that it expects to reduce 3 to 5 million tonnes of carbon dioxide annually by 2030 and generate up to USD 250 million per year from carbon-credit transactions, with all revenue allocated to the city budget. 🔗
▶ On 19 September, CarbonCredits.com reported that the Korea Exchange (KRX) will officially launch the Korean carbon credit market to support carbon trading in partnership with Xpansiv, a global provider of environmental market infrastructure. 🔗
▶ On 23 September, Cambodia reaffirmed its commitment to reducing emissions by 55 percent and strengthening forest protection as part of its next Nationally Determined Contribution, during the Tropical Forest Forever Facility Solutions Dialogue. 🔗
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▶ On 7 July, the European Union released its Roadmap towards Nature Credits to promote nature protection and restoration, which is expected to catalyze private-sector investment in nature-credit markets. 🔗
▶ On 28 July, the World Economic Forum reported that the EU is considering the reintroduction of international carbon credits, with potential annual purchases of up to 140 million tonnes at an estimated cost exceeding EUR 10 billion. 🔗
▶ On 7 August, Standard Chartered announced that it will supply up to five million tonnes of jurisdictional carbon credits to the market, starting in 2026, in collaboration with the Brazilian state of Acre. 🔗
▶ On 11 August, CarbonCredits.com reported that major companies, including Microsoft, are making large-scale carbon credit purchases to achieve carbon negativity by 2030, with carbon-credit agreements rising by 122 percent year on year in the first quarter of 2025 and a total of 16 million tonnes of carbon removal credits transacted in the first half of 2025. 🔗
▶ On 11 August, E&E News by Portfolio reported that Fernando Haddad, Brazil’s Finance Minister, proposed establishing a climate alliance that would impose carbon import fees on specific products imported from non-member countries. 🔗
▶ On 12 August, CarbonCredits.com reported that Meta developed a global high resolution forest canopy map using an AI model that integrates high resolution satellite imagery and LiDAR data and will provide the dataset as an open source resource to support planning, monitoring and verification of forest projects. 🔗
▶ On 14 August, the UNEP Copenhagen Climate Centre launched an Excel-based Article 6 Pipeline database, providing a statistical foundation to analyze global trends and progress in Paris Agreement Article 6 activities. 🔗
▶ On 20 August, African Business reported that Singapore-based companies are able to purchase Paris Agreement Article 6-based carbon credits, with several agreements already signed with countries such as Ghana, prompting African project developers to compete for contracts with Singaporean buyers. 🔗
▶ On 21 August, the IPCC appointed eight researchers from the Potsdam Institute for Climate Impact Research as Lead Authors for the Seventh Assessment Report, which is expected to be released between 2028 and 2029. 🔗
▶ On 26 August, BloombergNEF projected that the supply of carbon credits could increase up to thirty-five-fold by 2050, with average prices reaching USD 60 per tonne by 2030 and exceeding USD 100 per tonne by 2050. 🔗
▶ On 4 September, ESG Today reported that Netflix signed a 15-year agreement to purchase carbon credits generated from an ARR project implemented by the American Forest Foundation.🔗
*ARR (Afforestation, Reforestation, and Revegetation) refers to planting trees in non-forested areas, restoring degraded forests and re-establishing vegetation in damaged landscapes.
▶ On 10 September, the World Economic Forum published Asia’s Carbon Markets: Strategic Imperatives for Corporations, noting that Asia produces half of global emissions, faces an annual USD 800 billion climate-finance gap and will rely on carbon markets to close this gap and support Net Zero investment. 🔗
▶ On 10 September, WEF released Finance Solutions for Nature: Pathways to Returns and Outcomes, noting that nature is rapidly emerging as a strategic investment class and offering a framework for investors and financial institutions to identify nature-based business models and mobilize capital. 🔗
▶ On 12 September, Carbon Brief reported that the United Kingdom’s spending on overseas climate aid for nature protection and restoration reached GBP 800 million, the highest level to date, with increased allocations for forest conservation. 🔗
▶ On 23 September, the VCM+ Coalition, a group of more than fifty organizations from academe, industry and the non-profit sector, was launched during New York Climate Week to strengthen integrity and equity in carbon markets through five core principles of scientific rigor, strong governance, transparent communication, tailored financial instruments and expanded demand from businesses and governments. 🔗
▶ On 23 September, Carbon Herald reported that governments from 34 countries released the Forest Finance Roadmap for Action during New York Climate Week, setting an annual target to mobilize USD 66.8 billion to close the global gap in forest finance. 🔗
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Principles for a Biodiversity Credit Market 🔗
▶ On 15 July, WEF, the Biodiversity Credit Alliance and the International Advisory Panel on Biodiversity Credits jointly released the High Level Principles to Guide the Biodiversity Credit Market. The report outlines three core principles to ensure that biodiversity credit markets deliver real benefits for people, nature, the climate and shared well-being: 1) Verified Positive Outcomes for Nature; 2) Equity and Fairness for People; and 3) Good Governance for High integrity Markets. These principles are expected to guide early market development by helping market actors generate high integrity credits and enabling buyers to make informed decisions.
Global Mangrove Restoration Costs in 2025 🔗
▶ On 18 July, One Earth published a research article titled, Implementation Costs of Restoring Global Mangrove Forests, which analyzed data from 249 projects to estimate the costs of mangrove restoration. The study found that restoring 1.1 million hectares of mangroves could sequester approximately 930 million tonnes of carbon dioxide. The total cost of restoration is estimated at USD 10.7 billion, which is lower than current carbon credit prices, indicating strong cost effectiveness. The analysis also shows that restoration costs tend to decrease with larger project scales and increase in countries with higher GDP levels.
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Restoring Cambodia’s Agarwood Forests with Local Communities
▶ Once abundant in Cambodia’s forests, agarwood has nearly disappeared due to overharvesting and widespread forest degradation. To revive the species, AFoCO and the Cambodia Forestry Administration launched a restoration initiative with local communities in 2023. Villagers walked through forests and protected areas to locate and document remaining mother trees, using their seeds to raise new seedlings. By the summer of 2025, AFoCO had planted more than fifty thousand young agarwood trees across Cambodia, helping bring new life back to degraded landscapes. At the same time, communities are combining traditional agarwood oil extraction practices with scientific methods to improve the quality of essential oils. These small but significant changes are contributing to the revival of Cambodia’s agarwood forests and opening new opportunities for local livelihoods.
→ Discover the story of Cambodia's agarwood forests (Click here)
Building Fire Resilient Forests in Cambodia
Forest fires are becoming more frequent and severe due to climate change. In response, AFoCO and the Cambodia Forestry Administration launched a pilot initiative to restore degraded land and test fire-resistant forest models. Indigenous tree species were planted across a twenty-seven hectare restoration site, where firebreaks were also constructed. Researchers are now monitoring tree survival and fire resistance to determine whether the restored forest can function as a natural fire barrier.
→ Discover the story of Cambodia's fire resistant forest (Click here)
Guardians of the Forest: Myanmar’s Fire Watchtower
▶ In the misty forests of Myanmar, a fire watchtower installed through an AFoCO project is helping protect nearby villages and surrounding landscapes. From the top of the tower, trained personnel monitor weather conditions and potential fire or lightning risks using specialized equipment and communication systems. Through this process, local residents and forestry officers work and learn together, gradually strengthening their role as guardians of the forest.
→ Discover the story of Myanmar's fire watchtower (Clcik here)
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▶ IUCN World Conservation Congress (09–15 October, Abu Dhabi, United Arab Emirates)
▶ International IUFRO Conference (09–11 October, Beijing, China)
▶ 3rd FAAF Forum (27 October, Seoul, Republic of Korea)
▶ 13th AFoCO Assembly (29–30 October, Seoul, Republic of Korea)
▶ APFC 31st Session (04–07 November, Chiang Mai, Thailand)
▶ UNFCCC COP30 (10–21 November, Belém, Brazil)
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UN Global Compact x AFoCO Joint Webinar 🔗
▶ On 15 October, AFoCO and the United Nations Global Compact will co-host a webinar titled, Achieving Global Goals through Sustainable Forest Management. The session will highlight the value and role of forests and discuss how businesses can contribute to climate action and biodiversity conservation.
→ Register for the webinar
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Asian Forest Cooperation Organization (AFoCO)
E-mail. contact@afocosec.org
Tel. +82-2-785-8971
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