The Indonesian Ministry of Environment and Forest (MoEF) in collaboration with the Interim Secretariat and working group for Broader Market Recognition (BMR) convened the second policy forum in Bali on Broader Market Recognition of National Systems. The Policy was a follow up to the “Creating Incentives through Broader Market Recognition of National Systems” session at Indonesia Pavilion at CoP27 in Sharm El-Sheikh, Egypt, November 2022, where coalition countries firstly announced its BMR Joint Statement. The Broader Market Recognition Coalition (BMRC) consists of tropical countries who presented the joint statement at COP27. Such limited global recognition does not adequately reward tropical countries that invest in national systems for strengthened forest governance. There is general agreement that further efforts must be made to ensure that these national systems achieve full international market recognition.

Source: GNN Liberia November 24, 2023 15:41 UTC