Since 2008, over USD 4 billion has been pledged to multilateral climate funds that support efforts to reduce emissions from deforestation and degradation plus conservation (REDD+). Despite strong interest in the potential to harness market based mechanisms to support REDD+ programmes, the future of such mechanisms remains highly uncertain. The last year has seen few approvals for REDD+, though the announcement of the Green Climate Fund’s five-year pilot for REDD+ worth USD 500 million gives forest conservation efforts a timely financing boost. Cumulatively, USD 1.7 billion has been approved for REDD+ activities since 2008; however, just USD 54 million has been approved in the last 12 months. Norway is the largest contributor of REDD+ finance, followed by the UK, Germany and the United States. There have been some significant changes in the REDD+ finance architecture and increasing efforts to support developing countries’ move beyond readiness and capacity building to demonstration programmes and emission reductions with payments based on verified results.
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