The European Investment Bank and USAID are supporting REDD through Althelia Climate Fund: A financial intermediary based in the tax haven of Luxembourg

2016-05-05-212726_1183x1026_scrotOn 13 June 2013, the European Investment Bank agreed to give up to €25 million to Athelia Climate Fund. This is the first time that the European Investment Bank has funded a European carbon fund. It is also the first time that the EIB has supported REDD, and it is doing so through a financial intermediary.

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“Very encouraging.” That’s how Per Fredrik Pharo, Director of Norway’s International Climate and Forest Initiative describes Indonesia’s peatland (mis)management

The fires in Indonesia this year are the greatest environmental disaster of the 21st century (so far). An area of about 2.5 million hectares of forest and peatland burned. Visibility was reduced to 30 metres in places. At least 19 people died. By the end of October, there were 500,000 cases of respiratory tract infections.

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I’m a GNU. How do you do? A REDD animal appears in Paris with a promise of US$5 billion

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”.

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Guyana Finance Minister’s budget speech: “As currently configured, it would not only be irresponsible, but a downright criminal act of deception, were we to proceed with the Amaila Falls”

AmailaFallsOn 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.

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