Brazil receives US$ 96 million for having reduced its deforestation
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.