Decree published amending the Forestry Law for new payments for forestry services in Costa Rica
The Costa Rican government received the first disbursement of the resources obtained as payment for results (PR) in the amount of $16.4 million from the World Bank.
In order to define the direction of these resources, the government signed two decrees:
- Executive Decree on Payment of Environmental Services to Forest Owners, which amends the regulations of the Forestry Law, in order to allow all those persons who are legitimate owners of farms, without property title, to apply for the benefit of Payment for Environmental Services (PES). This modification will allow them to be paid for providing environmental services.
- Decree amending the Regulations to the Forestry Law, Executive Decree No. 25721-MINAE of October 17, 1996, and its amendments”, which establishes the enabling conditions to put into operation differentiating mechanisms of environmental services to be recognized as in this case the CREF (Emission Reduction Contracts).
It should be noted that these funds are granted to Costa Rica for being the first country in Latin America to successfully complete all the necessary steps to receive this first payment associated with the agreement to reduce carbon emissions through forest conservation.
This publication was made on Wednesday, August 31st , so its validity is already active.
Daniela Quesada
daniela.quesada@garciabodan.com
Assocaite
García & Bodán
Costa Rica