SOLOMON ISLANDS is among five countries that would benefit from a funding to support its national REDD+ efforts.
The five countries are Cambodia, Papua New Guinea, Paraguay and the Philippines including Solomon Islands.
These five countries will receive critical funding to support their national REDD+ efforts with Denmark announces US$6 million in additional funding for the UN-REDD Programme and Spain confirms US$1.4 million for 2010.
This was approved during fifth United Nations-REDD Policy Board Meeting in Washington, DC from 4-5 November 2010.
The UN-REDD Programme approved US$15.2 million in funding for national programmes in Cambodia, Papua New Guinea, Paraguay, the Philippines and Solomon Islands, bringing the total amount of funding for UN-REDD National Programmes to US$57.8 million.
The Policy Board approved US$3 million for Cambodia, US$6.4 million for Papua New Guinea and US$4.7 million for Paraguay. These three countries presented full national programmes that lay out REDD+ readiness plans including setting up MRV, monitoring and governance systems, stakeholder engagement and safeguarding the multiple benefits of forests.
Initial national programmes in the Philippines and Solomon Islands were allocated US$500,000 and US$550,000 respectively.
These critical funds support the capacity of national governments to prepare and implement national REDD+ strategies with the active involvement of all stakeholders, including Indigenous Peoples and other forest-dependent communities, with the ultimate goal of protecting, better managing and wisely using their forest resources, contributing to the global fight against climate change.
With these new funding allocations, the UN-REDD Programme is now providing direct support to 12 countries while also working with 17 other partner countries across Africa, Asia-Pacific and Latin America.
The sixth policy board meeting is expected to take place the week of 21-25 March 2011 in Hanoi, Vietnam, back-to-back with the FCPF's Participant Committee meeting.
Reducing Emissions from Deforestation and Forest Degradation (REDD) is an effort to create a financial value for the carbon stored in forests, offering incentives for developing countries to reduce emissions from forested lands and invest in low-carbon paths to sustainable development.
“REDD+” goes beyond deforestation and forest degradation, and includes the role of conservation, sustainable management of forests and enhancement of forest carbon stocks.
Pilot Countries: Bolivia, Cambodia, Democratic Republic of Congo (DRC), Indonesia, Panama, Papua New Guinea, Paraguay, the Philippines, Solomon Islands, Tanzania, Viet Nam and Zambia
Partner Countries: Argentina, Bangladesh, Bhutan, Central African Republic, Colombia, Costa Rica, Ecuador, Gabon, Guatemala, Guyana, Kenya, Mexico, Nepal, Nigeria, Republic of Congo, Sri Lanka and Sudan.