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Jakarta Post

UN climate fund allocates US$500 million for forest recovery

  • Adisti Sukma Sawitri

    The Jakarta Post

Bonn   /   Tue, November 14, 2017   /   12:55 pm
UN climate fund allocates US$500 million for forest recovery Participants walk past the UN Climate Change Secretariat's booth at the venue of COP23 in Bonn on Nov. 13 (The Jakarta Post/Adisti Sukma Sawitri)

A global fund set under United Nations Framework Convention on Climate Change (UNFCCC) has allocated US$500 million for countries to fund their forest recovery and preservation programs. 

German Secretary of State Jochen Flasbarth said countries that reduced emissions from deforestation and forest degradation (REDD) programs could access the financing from the Green Climate Fund (GCF) through a payment mechanism in which the nations will be paid based on the results of their programs.

“We should stop deforestation,” he said on the sidelines of COP23 climate conference.

The GCF is the global fund set under the UNFCCC to finance climate actions in countries that try to reduce the impacts of climate change. Germany is among the largest donors in the financing scheme.

Nur Masripatin, Indonesia’s national focal point at the UNFCCC, welcomed the funding initiative as it would help countries in which the main climate actions are focused on forestry, like Indonesia.

“This good news. But we have yet to access the funding since we can’t produce results-based reports from our REDD programs,” she said.  

Nur said the government was working to prepare the mechanisms that would be able to measure achievements of the country’s REDD programs to be able to access various forms of climate funding.