Report of the Informal Working Group on Interim Finance for REDD
The Informal Working Group (IWG) on Interim Finance for Reducing Emissions from Deforestation and Degradation (REDD) was set up in response to the meeting of world leaders at St James's Palace in London on April 1, 2009. The IWG's latest report outlines an interim mechanism that could deliver reductions in deforestation of around 25% by 2015.
This report estimates that if financing of €15-25 billion were made available for the 2010-15 period for results based incentives, a 25% reduction in annual global deforestation rates may be achievable by 2015. Efforts on this scale could, if effective, reduce annual deforestation by about 3 million hectares per year, for an accumulated total emission reduction of 7GtCO2e for the period - greater than the annual emissions of the USA. They could also generate economic benefits for developing countries, including their indigenous peoples and local communities, conserve biodiversity and protect water supplies.
Immediate action on REDD is a crucial part of the climate change solution. The key elements of a simple, effective, efficient and equitable mechanism could be set up by the end of the first quarter of 2010, based on the agreed outcome of COP 15 in Copenhagen. The Informal Working Group on Interim Finance for REDD might, if deemed useful by countires in the light of results at Copenhagen, reconvene in early 2010 to consider further steps to facilitate immediate action on REDD.
Download the full report here (PDF 507KB)
