On 29 November 2016, Brazil’s National Institute for Space Research (INPE) released its estimate of deforestation in the Brazilian Amazon for the period August 2015 to July 2016. It’s not good news. Deforestation increased by 29% compared to the previous year.
Tag: Financing REDD
Response from IFC fails to answer any of REDD-Monitor’s questions about its “Forest Bond”
On 1 November 2016, I wrote about the International Finance Corporation’s launch of a US$152 million “forest bond”. I also sent some questions to the IFC about the bond issue:
Some questions for the IFC about its “Forest bonds”
On 1 November 2016, I wrote about the International Finance Corporation’s launch of a US$152 million bond. According to the IFC’s press release, the bond will “protect forests and deepen carbon-credit markets”. The reality is that the IFC is bailing out Wildlife Works’ Kasigau Corridor REDD project in Kenya, a project that had failed to…
IFC launches US$152 million REDD greenwashing bond for mining corporation BHP Billiton. With help from Conservation International
Yesterday, the World Bank’s private sector arm, the International Financial Corporation launched a US$152 million bond aimed at supporting REDD and carbon trading. The deal demonstrates just about everything that’s wrong with REDD.
REDD: The world’s largest top-down tool in development cooperation
“The aim of reducing the emissions from forest destruction and degradation caused by industrial agriculture, logging, mining for fossil resources, etc. is today decisive to the survival of humankind and our planet. However, when the tool to achieve this aim is the trading of emission credits (offsets), we arrive at the wrong solutions.”