Forests for Carbon Reduction: Businesses Join Hands for Forest Investment in Asia
- The 3rd AFoCO Corporate Forum (FAAF) Convenes in Seoul -

The Korea Forest Service, led by Minister KIM In-ho, announced that the 3rd AFoCO Corporate Forum, known as the Friends of Asia and Asian Forests (FAAF), was successfully held at the SME DMC Tower in Sangam, Seoul, on October 27. The Forum brought together around 120 participants, including representatives from businesses, academia, international organizations, and AFoCO member countries, to discuss ways to expand private sector engagement in forest cooperation projects.
* Asian Forest Cooperation Organization: An intergovernmental organization led by the Republic of Korea to promote regional cooperation on forest issues, including climate change and desertification.

Launched officially in 2024, the FAAF aims to strengthen Asia’s climate response strategies by linking corporate ESG management with forest cooperation initiatives.

Under the theme, “Reframing Forest Investment in Asia: From Carbon Reduction to Co-benefits,” the Forum featured keynote speeches, expert sessions, corporate case presentations, and an open discussion session.

In his keynote address, Mr. Pengyu Li, China Representative of the World Economic Forum, stated, “Forests worldwide are no longer merely carbon sinks but are turning into sources of emissions. To reverse this trend, it is essential to foster collective action that combines private capital and innovative technologies for sustainable land use and forest restoration.”

During the event, the Asian Forest Cooperation Organization (AFoCO) signed a Memorandum of Understanding (MoU) with the Billion Tree Fund of Mongolia to strengthen cooperation on resource mobilization and global climate action. The partnership is expected to further expand collaboration between the two institutions in addressing desertification and enhancing climate resilience across Asia.

Ms. LEE Mi-ra, Deputy Minister of the Korea Forest Service, remarked, “It is time to realize the multiple co-benefits of forest cooperation through public?private partnerships, including carbon reduction, biodiversity conservation, and improved livelihoods.”
“The Korea Forest Service will actively support the leadership of private enterprises in climate action and strengthen their linkages with forest cooperation projects across Asia.”