“Good money after bad? Risks and opportunities for the Green Climate Fund in the Congo Basin Rainforests”, is the title of a new report by the Rainforest Foundation UK. The report focusses on the GCF and REDD, followed by a critical overview of the GCF’s planned projects in the forests of the Congo Basin.
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.
A two day meeting is currently taking place at the Columbia Law School in New York of the Private Sector Advisory Group to the Green Climate Fund. On the agenda is the Green Climate Fund’s funding of forestry projects.
In early November 2015, the Board of the Green Climate Fund (GCF) met in Livingston, Zambia. During the meeting it approved US$168 million funding for eight projects. One of these projects aims to deforestation in wetlands on largely indigenous peoples’ territories in the province of Datem del Marañón in Peru.