A proposal from Brazil for results-based payments from the Green Climate Fund will be considered by the GCF board at the end of this month. If approved, it would set a terrible precedent, wasting GCF money without creating any incentive to protect forests in the future.
“The REDD+ readiness phase leading up to implementation has been slow and has fallen short of expectations.”
As climate breakdown gets worse, the corporations most responsible are looking for ways to continue profiting from ever increasing greenhouse gas emissions. Norway’s oil company Equinor is a classic example of this. The company plans to continue drilling oil – including in the Arctic – while investing in “natural climate solutions” to offset its emissions.
Every year, the concentration of carbon dioxide in the atmosphere increases. The CO2 concentration currently stands at 411.36 parts per million. In 2019, the UK Met Office predicts that the increase in CO2 in the atmosphere will be larger than in 2018. The increase in 2019 is likely to be one of the largest in 62 years of measurements.
In September 2014, more than 50 companies signed on to the New York Declaration on Forests. The declaration has a target to “At least halve the rate of loss of natural forests globally by 2020 and strive to end natural forest loss by 2030.”
Earlier this week, REDD-Monitor wrote about a 2,800 square kilometre oil palm plantation that threatens a huge area of forest in the district of Boven Digoel in the east of Papua Province. REDD proponents are silent on how REDD could stop this destruction and to prevent the setting off of a deforestation carbon bomb.
On 18 January 2019, Sami Raja was sentenced to eight years in prison at Southwark Crown Court. He was found guilty of conspiracy to defraud and money laundering. Four other men were sentenced in September 2018. Between January 2012 and August 2013, they miss-sold carbon credits to retail investors through two companies, Harman Royce Ltd and Kendrick Zale Ltd.
“The technology is well known and has been available for thousands of years. Everybody knows how not to cut down a tree.” That spectacularly naive comment came from Norway’s then-prime minister Jens Stoltenberg in December 2007 at the launch of Norway’s International Climate and Forest Initiative (NICFI).