Amazon has joined the LEAF Coalition, a public-private initiative to protect tropical forests.

The Lowering Emissions by Accelerating Forest Finance (LEAF), which was announced at the recent Leaders Summit on Climate Change, aims to accumulate more than $1 billion in financing.

The coalition aims to accelerate climate action by providing results-based finance to countries committed to protecting their tropical forests, including Guyana and Costa Rica.

The governments of Norway, the United Kingdom, the United States, and companies including Airbnb, Bayer, Boston Consulting Group, GSK, McKinsey, Nestlé, Salesforce, and Unilever will also join the initiative.

“Climate change is the greatest threat to our planet, and the LEAF Coalition offers us an opportunity to bring together governments and companies to fight it,” said Jeff Bezos, Amazon founder and chief executive. “In uniting behind a common cause, the countries and companies of the coalition have a chance to end deforestation by 2030. As founders of The Climate Pledge – a commitment to reach the goals of the Paris Agreement 10 years early – we’re excited to support this important initiative and encourage others to do the same.”

Prime minister Boris Johnson said that while the world’s tropical forests are “lungs of our planet” it is losing these ecosystems at an “unconscionable rate.”

“This is having a devastating impact on the billions of people who rely on forests for their livelihoods and sustenance and is setting back our efforts to tackle climate change,” said the prime minister. “Time is running out to protect our tropical forests from irreversible loss and limit global warming to 1.5°C. That is why the UK is proud to have joined our partners in the hugely exciting LEAF Coalition, galvanising business investment and working hand-in-hand with forest countries to stop deforestation, cut global greenhouse gas emissions and put nature on the path to recovery.”

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