The Global Carbon Council (GCC) and the Asian Forest Cooperation Organization (AFoCO) have signed a Memorandum of Understanding (MoU) to strengthen cooperation in addressing global climate change through the promotion of Nature-based Solutions (NbS) and fostering an enabling and high-integrity carbon market ecosystem across Asia. The MoU was officially signed during a formal ceremony by Dr. Yousef Alhorr, Founding Chairman of the Global Carbon Council, and Dr. Chongho Park, Executive Director of the Asian Forest Cooperation Organization.

The partnership was initiated not only in response to UNEP’s inaugural State of Finance for Forests (SFF) 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. In this context, the partnership seeks to leverage carbon-based incentives in line with the Paris Agreement, particularly Article 6, as a means to mobilize private sector engagement through internationally aligned carbon market mechanisms.

According to the report, annual forest investments must more than triple from USD 84 billion in 2023 to USD 300 billion by 2030 to meet global climate and biodiversity targets. Currently, the world faces a forest finance gap of USD 216 billion per year, underscoring the need for scalable and credible market-based solutions. To this end, the agreement between GCC and AFoCO establishes a cooperative framework to support sustainable, verifiable, and impactful forestry and climate initiatives across the region.

Through this MoU, the two organizations will promote collaboration on Public–Private Partnership (PPP)-based Nature-based Solutions carbon incentive programs, aligned with the Land Use, Land-Use Change and Forestry (LULUCF) initiatives implemented by AFoCO to strengthen climate change mitigation, adaptation, and resilience.

GCC is recognized as the Global South’s first internationally accredited carbon market program under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) of the International Civil Aviation Organization (ICAO), while AFoCO is a intergovernmental body driving climate resilience in Asia by turning high-level forestry policy into proven, local restoration actions

By leveraging GCC’s high-integrity carbon standards and its digital Measurement, Reporting, and Verification (digital MRV) systems, 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.

Emphasizing the strategic importance of the collaboration, Dr. Yousef Alhorr, Founding Chairman of the Global Carbon Council (GCC), stated: “Forests are our most effective natural defense against global warming. Recent data shows that Asian forest sinks are already removing nearly one billion tons (0.9 Gt) of CO₂ every year, making the region one of the most productive carbon absorbers on the planet. By scaling Nature-based Solutions (NbS) through our partnership with the Asian Forest Cooperation Organization, 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 the Asian Forest Cooperation Organization (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.”

Key Areas of Collaboration

The MoU identifies the following priority areas of cooperation:

• Public–Private Partnership-based Nature-based Solutions Programs: Identification, advisory services, and guidance for sustainable forestry and Nature-based Solutions projects across AFoCO member countries.
• Methodologies and Digital Measurement, Reporting, and Verification Systems: Enhancing project design, monitoring, and verification through digital technologies to ensure robust and auditable carbon accounting.
• Capacity Building: Strengthening institutional and technical capabilities through training programs, workshops, and knowledge exchange.
• Policy and Market Linkages: Supporting the integration of Nature-based Solutions projects into international climate frameworks and expanding access to high-quality carbon markets.

Following the signing of the MoU, the two organizations will establish a Joint Working Group to identify priority initiatives, coordinate technical support, and progressively implement the cooperation framework through targeted events, workshops, and joint activities.