16 December 2009: During the UN Copenhagen Climate Change Conference, the Governments of Australia, France, Japan, Norway, the UK and the US collectively agreed to dedicate US$3.5 billion as fast-start climate change financing between 2010-2012 for REDD+ (reducing emissions from deforestation and forest degradation, including conservation, sustainable forest management (SFM) and stock enhancement).
At the announcement, UK Prime Minister Gordon Brown stated that “around $25 billion over the period of 2010-15 is needed to cut deforestation rates in developing countries by 25% by 2015. Developed countries should provide the majority of this, supporting rainforest countries’ own efforts.” [UK Government Press Release]