On the first day of the UN climate negotiations in Paris, the governments of Germany, Norway and the United Kingdom pledged US$5 billion for REDD, between 2015 and 2020. The GNU countries say they “have signaled they will increasingly target results-based finance for countries who deliver verified REDD+ emission reductions”.
Green Resources is a Norwegian company with plantations in Africa. According to the company, its plantation operations follow, “high international practice for sustainable forest management, ESG [environmental, social and corporate governance] responsibilities and carbon sequestration”.
In 2008, Norway agreed to pay US$1 billion to Brazil’s Amazon Fund, if Brazil reduced deforestation in the Amazon. Norway has so far handed over US$900 million and will pay the final US$100 million before the end of this year.
On Monday, Guyana’s Finance Minister, Winston Jordan, presented the state budget in Parliament. In his speech, he slammed the proposed Amaila Falls hydropower dam, the flagship project of Guyana’s Low Carbon Development Strategy.
In March 2015, Bloomberg quoted Jens Frølich Holte, political adviser to Norway’s Minister for Climate and Environment, as saying that, “Carbon trading can speed up the global transition away from a fossil economy. Trade creates benefits and this is as true for carbon as it is for other commodities.”
Norway has transferred US$80 million to the Inter-American Development Bank as part of the Norway-Guyana US$250 million REDD deal. Perhaps surprisingly, if Guyana spends the money it will involve the destruction of a large area of rainforest.
On 2 September 2013, Indonesia established its REDD+ Agency as part of the US$1 billion REDD deal with Norway. Just over one year later, Indonesia’s Minister of Environment and Forestry, Siti Nurbaya, has proposed reducing the role of the REDD+ Agency to an advisory board within her ministry.
Yesterday, REDD-Monitor wrote about the impact of Green Resources’ plantations on local communities in Uganda. The post was based on a new report by the Oakland Institute, “The Darker Side of Green: Plantation Forestry and Carbon Violence in Uganda”.