Reports & Analysis
UNEP FI Set to Release its Second Report on REDD+ Financing
The forthcoming report, "REDDy-Set-Grow: Part II - Recommendations for International Climate Change Negotiators" calls on the United Nations Framework Convention on Climate Chang to expand the scale of the forest-carbon market.
The forthcoming report unites over 200 leading actors of the financial sector under a partnership with the United Nations Environment Programme Finance Initiative (UNEP FI) to call on the United Nations Framework Convention on Climate Change (UNFCCC) to expand the scale of the forest-carbon market by including, in a future treaty, text that signals their commitment to addressing some of the risks that currently characterize this market.
|Part one of the report titled “REDDy-Set-Grow: Opportunities and roles of financial institutions in forest carbon markets”, released in May 2011
This briefing explores policy options for effectively mobilizing private finance and investment for forest-based climate change mitigation, particularly focusing on market development for REDD+ carbon credits. Further, the report provides analysis on how policy design and implementation reflect on the risks and barriers of forest-based mitigation opportunities, and how it will be perceived by the private sector.
Among the specific policy recommendations formulated in the report are the details of a policy scenario, coined as the “nested approach,” deemed most likely to close the REDD+ investment gap. The report also calls for reforms to the carbon credits-generating Clean Development Mechanism (CDM) scheme, which the financial sector would like to see secured – namely with the creation of permanent carbon credits – in a post-Kyoto climate change regime.
In conjunction with the launch of this report, UNEP FI will host a webinar to facilitate an open and critical debate to explore the key issues surrounding the financing of any future REDD+ agreement from the perspectives of the different stakeholders involved – developed and developing country governments, civil society and the private sector.
Titled ‘REDDy for Durban: Designing an effective international regime for financing forest-based mitigation’, the webinar will address the advantages and potentials as well as concerns and challenges of private sector engagement. It will explore ways in which the private sector can be involved and mobilized while resulting concerns among all REDD stakeholders mitigated, so as to ensure the success, effectiveness and sustainability of REDD+ projects and financing.
To accommodate global participation, two identical webinars will take place on Tuesday, 13 September at 9:00 and 16:00 GMT. Registration is free. Click here to register.
For more information, please contact Sunyoung Suh.