In the Media
“Cash is king”: Forested countries must see REDD+ financial rewards
May 21, 2012
CIFOR Forests Blog
Developing countries will not be incentivised to change business -as- usual practices and invest in REDD+ schemes until there’s certainty that the financial rewards that have been used to promote the forest carbon mechanism will materialise in the future, said experts at the sidelines of the climate change talks in Bonn.
“Cash is king,” said Maria Brockhaus, a scientist at the Center for International Forestry Research (CIFOR), at a side event held alongside the meetings of the UNFCCC’s Subsidiary Bodies. “The prospect of REDD+ financing is already a game changer, but if we want the change to be transformational and not just on the surface, there needs to be certainty on what forested nations will receive under REDD+.”
“What we need is the long term certainty that REDD+ will be funded; that is more important than the question of immediate funding needs” said Louis Verchot, CIFOR’s leading climate change scientist, in response to a participant at the event who raised concerns that developing countries were already struggling to spend the funds given to build capacity and the institutions needed to apply REDD+.
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Keywords: Asia, developing countries, finance, financing, REDD