A recent report by the Rainforest Foundation UK describes the potential scaling up of the International Finance Corporation’s Forest Bonds programme as “One of the most worrying evolutions of GCF activities in the Congo Basin”.
How do we know whether or not a REDD project is actually reducing deforestation and forest degradation? Satellite data is one increasingly popular answer. Computers can be trained to use the data to detect deforestation and changes in land use and plot the information on easy to read maps.
Since May 2018, if you buy ice cream from Ben & Jerry’s Scoop Shop in Wardour Street, London, you will also buy a small part of a carbon credit. For every scoop of ice cream, a penny goes to buying carbon credits from the Cordillera Azul National Park REDD project in Peru.
Sustainable Forestry Management Ltd was the name of a company incorporated in the Bahamas in October 1999. The company set up forestry projects and traded carbon credits. Its directors included Eric Bettelheim (Executive Chairman and General Counsel), Alan Bernstein (Chief Executive Officer), and Hugh van Cutsem (Director).
In 2007, the Forest Peoples Programme put out a briefing paper about reduced emissions from deforestation, or RED, as REDD was called back then. The briefing warned of the risks of the rapid expansion of avoided deforestation schemes without due regard to rights, and social and livelihood issues.