2 December 2011

Global Witness have published a study conducted by LTS International and the University of Edinburgh on Safeguarding REDD+ Finance.

Global Witness commissioned LTS International to undertake an independent review and assessment of international financial flows for REDD+ from developed to developing countries and provide recommendations on best practice principles that can be established at the international level to mitigate against misrepresentation, misappropriation and inefficient allocation of funds.

Substantial funds have been committed in recent years in a renewed global effort to reduce emissions of greenhouse gases from deforestation and forest degradation in developing countries, and to enhance the carbon dioxide storage capacity of their forests. Collectively these activities are known as ‘REDD+’. Phase 1 funding for REDD+ is already underway and approximately US$7 billion has been committed for REDD+ since 2008. Most (but not all) of this funding originates in developed countries and is spent in developing countries. These sums represent only a first step towards mobilising several times this amount (e.g. US$17-33 billion) on an annual basis in order to make significant cuts (e.g. 50%) in rates of deforestation and forest degradation.

The full report can be read here.