Brazil REDD+ Results Based Payments (Phase 3)

Project Overview

This is the first project that has been approved under the GCF’s REDD+ results-based payments pilot programme. It provides payments for results derived from reducing emissions from deforestation in the Amazon region in 2014 and 2015. These results have subsequently been reported to the UNFCCC and undergone technical assessment and are fully compliant with UNFCCC requirements and the Terms of Reference for the GCF’s pilot programme on REDD+ results-based payments. Considering that Brazil will reinvest the proceeds received through this project in activities that are consistent with their Nationally Determined Contributions (NDCs) established under the UNFCCC Paris Agreement and national REDD+ strategy, Brazil will use the proceeds for (a) Development of a pilot of an Environmental Services Incentives Program for Conservation and Recovery of Native Vegetation (Floresta+); and (b) for Strengthening implementation of Brazil’s REDD+ strategy.

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Project Details

Source of Funds

Green Climate Fund

Funding Amounts

USD 96.5 million

Project Partners

Green Climate Fund

Project Dates

2019 to 2025

Introduction

This is the first project that has been approved under the GCF’s REDD+ results-based payments pilot programme. It provides payments for results derived from reducing emissions from deforestation in the Amazon region in 2014 and 2015. These results have subsequently been reported to the UNFCCC and undergone technical assessment and are fully compliant with UNFCCC requirements and the Terms of Reference for the GCF’s pilot programme on REDD+ results-based payments. Considering that Brazil will reinvest the proceeds received through this project in activities that are consistent with their Nationally Determined Contributions (NDCs) established under the UNFCCC Paris Agreement and national REDD+ strategy, Brazil will use the proceeds for (a) Development of a pilot of an Environmental Services Incentives Program for Conservation and Recovery of Native Vegetation (Floresta+); and (b) for Strengthening implementation of Brazil’s REDD+ strategy.

Contacts

Mr. Pradeep Kurukulasuriya
Mr. Lucas Black