In most low-income countries, the forest and land use sectors have a central role to play in national climate change plans and broader development objectives. But how can these countries ensure that investments in these sectors are adequate? And what scope is there for redirecting finance from supporting business-as-usual to effective approaches for protecting forests and mitigating climate change?
One approach is to map flows of public finance from both national and international sources. Recent research in Côte d’Ivoire did just that. The methodology used and the findings obtained are relevant to other countries that have included forestry and land use in their nationally determined contributions under the Paris Agreement on climate change. Last month, the project team shared their experiences and findings in a webinar, which is now available in English and French along with the presentations (see below).
Côte d’Ivoire has already lost most of its forests, which now cover just 2% of the land area. But the government has plans to increase this to 20% by 2030. By increasing forest cover and decoupling cocoa production from deforestation, amongst other measures, Côte d’Ivoire aims to reduce its greenhouse gas emissions by 28% by 2030.
These ambitious goals frame the country’s strategy and investment plan for reducing emissions from the forest sector (REDD+). But is there enough finance available? To find out, the ministry in charge of the environment commissioned a mapping of domestic and international public finance.
The project assessed financial flows from 12 ministries and 15 international donors and funds. As well as identifying REDD+-aligned finance, the project identified ‘grey’ finance, which did not take account of REDD+ and may even contribute to deforestation.