This Week In Forest Carbon: On The Trail Of REDD Tracking
Forest Trends and the Overseas Development Institute’s (ODI) Climate Funds Update have concurrently released a series explaining existing REDD+ finance tracking projects. Three articles are already out, so stay tuned for upcoming stories exploring what is known about private sector REDD+ finance and the difficulty in following such investments, as well as the next steps in tracking REDD+ finance.
This article was originally published in the Forest Carbon newsletter. Click here to read the original.
15 August 2013
| With REDD+ projects and activities becoming increasingly visible over the last two decades – and counting – REDD+ has seen billions of dollars committed to its cause around the globe. Needless to say, tracking the deployment and flow of this finance is challenging. Several initiatives focus on tracking REDD+ finance at different scales, often using slightly different definitions and data sources that can produce a variety of numbers when counting REDD+.
To promote harmonization and to build up a more comprehensive picture of the state of REDD+ finance, Forest Trends’ REDDX (hosted on the Forest Carbon Portal) and the Overseas Development Institute’s (ODI) Climate Funds Update have just launched an infographic here and the first three articles in a collaborative series that explains existing REDD+ finance tracking projects – including Forest Trends’ own new REDDX expenditures tracking initiative (Spanish version here), with contributions from several initiatives that report on REDD+ finance:
Stay tuned for the rest of the series which will feature insights from United Nations Environment Programme’s Finance Initiative (UNEP FI), Ecosystem Marketplace and the Global Canopy Programme. These articles will explore what is known about private sector REDD+ finance and the difficulty in following such investments, as well as the next steps in tracking REDD+ finance. These and other stories from the forest carbon marketplace are summarized below, so keep reading!
- 1) Who’s counting? Forest Trends and ODI’s Climate Funds Update discuss what it will take to provide a more comprehensive picture of REDD+ finance, beginning with demystifying the different niche areas tracked by various REDD+ finance initiatives.
- 2) What you see isn’t always what you get: Transparency International shares challenges in monitoring accountability of REDD+ financial flows in a number of recipient countries including Mexico and Kenya, stressing the need for national registries that disaggregate REDD+ from other monetary flows, as well as proactive disclosure of information for all projects.
- 3) Lessons from the US: The Tropical Forest Group shares findings from tracking US REDD+ spending and the difficulties in following finance which is managed across a number of different agencies and in very different ways. Data from 2008-2011 reveals that US REDD+ finance has focused primarily on forest nations with large forests, relatively high GDP, and the smallest overall capacity gaps for executing national forest monitoring systems that can link with an international REDD+ framework.
With the redesign of our Forest Carbon Portal and continued expansion of our Spanish language sister website Valorando Naturaleza, Ecosystem Marketplace hopes to continue to bring you this kind of fresh information in the second half of 2013! If you value what you read, consider supporting Ecosystem Marketplace’s Carbon Program by contacting Molly Peters-Stanley. We’re $75k away from being able to publish this year’s State of the Forest Carbon Markets report in a few months’ time – can we count on your support?
Here at Ecosystem Marketplace, we are preparing to transition from data collection to report-writing mode in order to bring you this year’s State of the Forest Carbon Markets report. For those of you developing forest carbon offset projects, if you have not yet responded with data and wish to participate in the survey, please notify Daphne Yin.
A big thank you to the following organizations that have most recently contributed data to this year’s State of the Forest Carbon Markets report, including: CLEVEL, Community Forests International, Cooperativa AMBIO, Terra Global Capital, The Nature Conservancy (Brazil), and Treedom.
—The Ecosystem Marketplace Team
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