The research and analysis group said that reports from allafrica.com show that representatives from each of the three African nations have pledged to continue their support for the REDD+ scheme in exchange for funding under the FIP.
Speaking at the annual FIP pilot scheme meeting in Brazil, Burkino Faso’s officials said that the country maintains a strong political affiliation and support to reduce emissions from deforestation and forest degradation (REDD+). The country also pledged to improve synergies between the REDD+ work and other industries, such as agriculture and environment. It wants to invest in private sector forestry.
Meanwhile, both Ghana and Burkino Faso mentioned that they were finding management of stakeholders' expectation a challenge.
The DRC said that it has made some headway in keeping track of investments under the scheme, through the launch of an online National REDD+ Projects register, which monitors the projects that are receiving the funding. However, it added that the private sector is still sceptical due to high taxes and complexities.
FRA’s analysis partner, Peter Collins, said, “We support the REDD+ program and are pleased to see that developing nations are still being rewarded for protecting their forestry industries for generations to come.”
FRA believes that schemes like the FIP and carbon trading programs help communities living in developing nations to realize and benefit from the value of standing forests. “This helps to reduce the reliance on non-sustainable forestry practices and underlines the benefits of managed forestry,” added Mr Collins.
Investors all over the world can do their bit to promote sustainable forestry and managed forestry by investing in plantation projects like those run by Greenwood Management in Brazil.
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