ISLP was privileged to support a national environmental fund in Central America in its efforts to achieve a landmark climate finance deal under which multinational corporate buyers purchased high-integrity jurisdictional carbon credits designed to provide funds to preserve that country’s tropical forests.
ISLP and volunteers from Allen & Overy provided strategic pro bono advice to the country’s national forestry financing fund during its review of an Emissions Reduction Purchase Agreement (ERPA). The volunteers’ objective was to ensure that the ERPA aligns with the highest international standards and best practices in carbon markets. The resulting ERPA provides a scalable, public-private model for forest preservation that protects Indigenous forest communities, advances sovereign sustainable development goals, and contributes to global efforts to combat climate change. The ERPA was signed at the United Nations Climate Change Conference (COP28) in Dubai and illustrates a meaningful advancement in Central America’s fight against climate change.