The funds will be used in increasing forest protection
27 February 2019, Panama City, Panama – Brazil just became the first country to receive financial resources from the Green Climate Fund (GCF) for having successfully reduced greenhouse gas (GHG) emissions from deforestation in the past.
The payment from the GCF is based on results achieved by Brazil in the Amazon biome between 2014-2015, and which have been reported and validated by experts from the United Nations Framework Convention on Climate Change (UNFCCC). This is the essence of REDD+: a mechanism to reward countries for having reduced their deforestation.
The decision is an unprecedent milestone for the international community and praise Brazil’s efforts and commitment to the protection and conservation of native vegetation as an essential step for the country in reaching the 2030 Agenda for Sustainable Development.
Even though this payment represents a small fraction of the volume of results reported by Brazil during 2014-2015, it will be instrumental to pilot a new and innovative program titled “Floresta+”. It will be implemented by the Government of Brazil and supported by the United Nations Development Programme (UNDP), along with national and local governing institutions, civil society representatives and private sector. It focuses on ecosystem restoration, prevention of forest degradation and incentives for environmental services in the Amazon biome. The main beneficiaries will be family farmers, traditional and indigenous communities.
“The Floresta+ Pilot Program will be an opportunity for extensive multistakeholder consultations and participation, and for Brazil to reduce the pressure on native forests and therefore the achievement of the country’s NDC. We are honored for the trust placed in UNDP for supporting the country with this important and historic initiative. There is much hard work that lie ahead as we move now to the implementation phase”, said Maristela Baioni, UNDP Brazil Assistant Resident Representative.
Brazil has achieved significant results through reducing emissions from deforestation in the Amazon biome, it is estimated that the country reduced a total of 6,125,501,727.00 tCO2e of emissions from deforestation in that area between 2006 and 2015.
With this approval, UNDP has supported a total of 75 countries to access more than US$ 700 million in GCF finance for full-sized climate change projects. Since the GCF’s inception, UNDP has received 30 formal requests from Nationally Designated Authorities to support the development of funding proposals, and to provide readiness and preparatory support as a delivery partner. To date, 20 Readiness and National Adaptation Plans proposals supported by UNDP have been approved by the Executive Director of the GCF Secretariat.
Notes to editors
Climate change is a priority for UNDP. The organization is the largest implementer of climate action in the UN System, supporting over 700 projects, in 140 countries of a total value exceeding US $3 billion. In addition to UNDP’s own resources, this grant support is delivered in partnership with the Global Environment Facility (GEF) administered trust funds and the Adaptation Fund, as well as other multilateral, bilateral and national partners.
About REDD+: the UNFCCC COP 19, held in November 2013 in Warsaw, Poland, adopted the 7 decisions of the Warsaw Framework for REDD+. This agreement has widely been recognized as a breakthrough in negotiations providing clarity on several important issues related to REDD+ implementation. The Warsaw Framework for REDD+ builds upon earlier decisions adopted by the COP, and basically:
1. Reaffirms that results-based finance may come from a wide variety of sources, public and private, bilateral and multilateral, including alternative sources
2. Encourages financing entities, including the Green Climate Fund in a key role, to channel adequate and predictable results-based finance in a fair and balanced manner, and to work with a view to increasing the number of countries that are in a position to obtain and receive payments for results-based actions
3. Decides to establish an information hub on the REDD Web Platform, to publish information on the results and corresponding results-based payments
4. Requests the Standing Committee on Finance to consider the issue of financing for forests in its work on coherence and coordination
Recognizes the importance of incentivizing non-carbon benefits for the long-term sustainability of the implementation of the activities referred to in decision 1/CP.16, paragraph 70.