Abstract
The sustainability of forest ecosystems is key to achieving the Sustainable Development Goals. However, the rate of deforestation and degradation of forest ecosystems is unprecedented, and the need for the investments needed to implement sustainable forest management mechanisms is substantial. The protection of natural forests is directly dependent on the availability of financial resources for sustainable forest management. At present, there is a lack of knowledge about innovative financing mechanisms for sustainable forest management that are suitable for implementation in developing markets where large-scale deforestation occurs. The article describes financial instruments that provide investment in forestry, analyzes the arguments in favor of investing in intensive forest management projects. Mechanisms for financing sustainable forest management programmes through the issuance of forest bonds were also considered. Forest bonds are a more appropriate financial instrument for financing sustainable forest management than traditional green bonds. A taxonomy is provided Projects implemented within the framework of intensive forest management programmes for which forest bonds can be issued. The purpose of this article is to develop academic research aimed at studying forest green bonds and, more generally, green market financing mechanisms for sustainable forest management.
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