Guyana REDD-Plus Investment Fund (GRIF)
In 2009 the Governments of Guyana and Norway signed a Memorandum of Understanding and a Joint Concept Note pledging that the countries will “work together to provide the world with a relevant, replicable model for how REDD+ can align the development objectives of forest countries with the world’s need to combat climate change.” The result of this cooperation is the Guyana REDD-Plus Investment Fund (GRIF). The GRIF works to align national economic development with climate resilience and low-deforestation, low carbon growth by investing in low-carbon strategies identified in Guyana’s Low Carbon Development Strategy. It channels funding and offers economic incentives to a wide range of actors to enhance national government policy frameworks and economic incentives for combating climate change.
This case study provides an overview of Guyana’s macroeconomic situation and the evolution of climate change policy with a special focus on REDD+. It focuses on the GRIF, e.g. its funding sources, design and governance, fund administration, and current operations.