By Chris Lang Last week REDD-Monitor posted an open letter to the Board of the Green Climate Fund written by the World Rainforest Movement. The open letter, which was signed by over 100 organisations, urged the board to say no to the International Finance Corporation’s funding proposal, “Climate Bonds for Forests: Scaling up Private Sector…
Tag: IFC
Tell the the Green Climate Fund: No to IFC subsidies for REDD offsets! No to REDD funding!
By Chris Lang The Board of the Green Climate Fund will meet in Songdo, Republic of Korea, from 12 to 14 November 2019. Several funding requests are related to REDD, in Chile, Paraguay, and Laos. Particularly egregious is a funding request from the International Finance Corporation for a “Multi-Country Forest Bonds Programme”. The IFC programme…
IFC’s forest bonds: Quantitative easing for sub-prime REDD carbon credits
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”.
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…