Climate Finance: Pioneering Cooperation for Sustainable Development and Forest Conservation

Date: Saturday, December 9th,

Time: 12:15-13:30,

Venue: COP28, Amazon Pavillion, B87

OVERVIEW

The landscape of climate finance, shaped by international collaboration, carbon markets, REDD+, and diverse financial mechanisms, holds promise for fostering positive outcomes in greenhouse gas mitigation and climate adaptation. However, a noticeable disparity persists in accessing sufficient resources and establishing effective frameworks to access these resources and meet established climate targets. This underscores the pressing need to prioritize resource allocation and ensure transparent fund distribution.

This event will aim to explore the potential and efficacy of forest-based climate mechanisms like carbon markets, REDD, Forests Funds, PES, among others, in propelling sustainable development and bolstering forest conservation efforts. Brazil and the Amazon are central to the discussions and climate solutions. Considering this, the panel will highlight innovative financial mechanisms and successful forest preservation practices drawn from the esteemed panelists' rich experiences. Furthermore, it will delve into the specific challenges within current forest-based climate finance opportunities such as carbon markets, REDD Results-based payments, and climate-for-debt swaps, seeking untapped potential to steer finance towards low-carbon economies and robust forest protection, thus identifying pathways for heightened efficacy.

OBJECTIVES

• Discuss the efficacy and potential future of forest-based climate mechanisms such as carbon markets, nature-for-debt swaps, and REDD in driving sustainable development and fortifying forest conservation efforts. 
• Showcase innovative financial mechanisms and successful practices in forest preservation from the panelist experiences. Challenges and opportunities for achievements at the necessary scale to address climate change.
• Dissect the specific hurdles and untapped potential within carbon markets, nature-for-debt swaps, and REDD for steering finance towards low-carbon economies and robust forest protection, pinpointing avenues for enhanced efficacy.

PARTICIPANTS

Opening remarks

• Ms. Mirey Atallah, Head of Nature for Climate Branch, United Nations Environment Programme 
• Mr. Richard Ridourt, Government of the United Kingdom

Panelists

• Mr. Mauro Ó de Almeida, Secretary of Environment, Government of Pará
• Mr. Gabriel Labbate, Head of Climate Mitigation Unit, UNEP & Co-Chair IC-VCM
• Ms. Juliana Santiago, Executive Vice-president Brazil, Emergent, LEAF Coalition
• Mr. Eugenio Pantoja, Senior Director of Public Policies, Amazon Environment Research Institute (IPAM)

Moderation 

• Ms. Val Kapos, UNEP-WCM