A new report titled ‘Stimulating interim demand for REDD+ emission reductions: the need for a strategic intervention’ from the Interim Forest Finance project – a collaboration of the Global Canopy Programme, the Amazon Environmental Research Institute, Fauna & Flora International, and UNEP Finance Initiative – has been launched and calls for a US$12bn boost for pre-2020 emission reductions from forests and land use.
If global deforestation levels are to be reduced by 50% by 2020, as much as 9,900 MtCO2 of emission reductions from forests and land use activities will need to be generated between 2015 and 2020. The report highlights that currently total potential demand for REDD+ emission reductions in the same period amounts to only 253 MtCO2 – less than 3% of the emission reductions needed.
If REDD+ is to play a significant role in incentivising a reduction in deforestation in tropical forest countries, it needs to provide far more than 3% of demand for the emission reductions that are causing deforestation and degradation.
The report authors argue that ignoring this gap will leave little incentive for tropical forest countries to divert resources towards REDD+ prior to 2020, or for the private sector to invest in REDD+ projects.
To avoid these risks, the report advocates that donor country governments, tropical forest country governments and public financial institutions work together to provide incentives, finance and technical assistance to effectively bridge the supply and demand gap.
Started in year 2010, ‘Climate Himalaya’ initiative has been working on Mountains and Climate linked issues in the Himalayan region of South Asia. In the last five years this knowledge sharing portal has become one of the important references for the governments, research institutions, civil society groups and international agencies, those have work and interest in the Himalayas. The Climate Himalaya team innovates on knowledge sharing, capacity building and climatic adaptation aspects in its focus countries like Bhutan, India, Nepal and Pakistan. Climate Himalaya’s thematic areas of work are mountain ecosystem, water, forest and livelihood. Read>>