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…
Tag: World Bank
The World Bank’s Forest Carbon Partnership Facility “has not saved a single hectare of forest”
The World Bank’s Forest Carbon Partnership Facility is supposed to help countries in the Global South reduce emissions from deforestation and forest degradation. It was launched at COP 13 in Bali in 2007. The Fund capital stands at US$850 million, of which US$1.12 billion is for the Readiness Fund, and US$750 million is for the…
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.
The World Bank “provisionally” approves the Democratic Republic of Congo’s REDD programme
By Chris Lang Last week saw the 14th meeting of the Carbon Fund, part of the World Bank’s Forest Carbon Partnership Facility. At the meeting Costa Rica and the Democratic Republic of Congo presented their REDD programme plans. The Carbon Fund approved both country’s REDD plans (called Emissions Reduction Program Documents in the World Bank’s…
World Bank on REDD in the Democratic Republic of Congo: “Rome wasn’t built in a day”
Today is the second and final day of the Oslo REDD Exchange. Yesterday’s post featured the World Bank’s Paula Caballero demonstrating that she has perfected the art of speaking for 10 minutes without actually saying anything much.