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 raise enough money from sales of carbon credits. The carbon credits provide some green REDD froth on IFC’s business as usual.

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