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A new report from the Bretton Woods Project monitors the latest news about the Climate Investment Funds. The report notes several on-going concerns with the Forest Investment Program: about a proposed independent review of investment plans and the investment plans produced for Burkino Faso and the Democratic Republic of Congo (both of which have been approved).

The next meeting of the Forest Investment Program will take place on 31 October 2011 – details of the meeting are available on the Climate Investment Funds website. At this meeting, the investment plans for Laos and Mexico will be considered. The investment plans are available via the CIF website (the Lao request for US$30 million is 147 pages long and Mexico’s request for US$60 million – almost half of which would be in the form of a loan – is 107 pages long).

The Climate Investment Funds have generated their own mini-alphabet soup: CTF, SCF, PPCR, FIP and SREP. Just in case any of these abbreviations mean nothing to you, here’s an explanation from the Bretton Woods Project:

The Climate Investment Funds (CIFs) are financing instruments designed to pilot low-carbon and climate-resilient development through the multilateral development banks (MDBs). They are comprised of two trust funds – the Clean Technology Fund (CTF) and the Strategic Climate Fund (SCF). The SCF is an overarching fund aimed at piloting new development approaches. It consists of three targeted programmes: the Pilot Program for Climate Resilience (PPCR), the Forest Investment Program (FIP), and the Program for Scaling Up Renewable Energy in Low Income Countries (SREP). So far donors have pledged $4.3 billion to the CTF and $1.9 billion to the SCF.

Bretton Woods Project has produced a series of updates on the Climate Investment Funds: March 2010, July 2010 and February 2011.

Here’s the section about the Forest Investment Program from Bretton Wood Project’s most recent update on the Climate Investment Funds:

Forest Investment Program (FIP)

Background

The FIP is a financing instrument aimed at assisting countries to reach their goals under Reducing Emissions from Deforestation and Degradation (REDD+)[i]. It aspires to provide scaled up financing to developing countries to initiate reforms identified in national REDD+ strategies, which detail the policies, activities and other strategic options for achieving REDD+ objectives. It anticipates additional benefits in areas such as biodiversity conservation and protection of the rights of indigenous people.

Read full article with graphics here.