November 7th, 2022 | During COP27, the LEAF Coalition today announced it has increased the total amount of financial commitments for the purchase of high-integrity emissions reductions credits to over USD $1.5 billion. This represents a 100% increase in financial commitments from the private sector since COP26. Volkswagen Group and H&M Group have become the latest global corporations to make financial commitments to the LEAF Coalition. The Republic of Korea has been unveiled as the first Asian government to provide financial support to LEAF. The Republic of Korea joins the governments of the UK, US and Norway in backing the Coalition. In addition, Ecuador has become the first forest nation to sign a LEAF memorandum of agreement. This sets out next steps and a clear roadmap for the signing of a binding Emissions Reduction Purchase Agreement by April 2023.