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Guyana gets money to fight climate change

Jul 24, 2008 News

Guyana is one of the first 14 developing countries that the World Bank will pay to combat tropical deforestation and climate change, under a new partnership and international financing mechanism.
According to a statement from the Bank, Guyana will receive initial funding from the Forest Carbon Partnership Facility (FCPF) which aims to reduce deforestation and forest degradation by compensating developing countries for greenhouse gas emission reductions. 
The partnership, approved by the World Bank Board of Executive Directors on September 25, 2007, became functionally operational on June 25, last. 
The other 13 countries that will benefit from the programme are the African nations of the Democratic Republic of Congo, Gabon, Ghana, Kenya, Liberia, and Madagascar; Bolivia, Costa Rica, Mexico, and Panama in Latin America; and the Asian states of Nepal, Lao People’s Democratic Republic, and Vietnam. 
Nine industrialised countries – Australia, Finland, France (the French Development Agency), Japan, Norway, Spain, Switzerland, the United Kingdom and the United States – have committed to contribute about US$82 million to the FCPF.  More contributions from the public and private sectors are expected in the coming months and more countries will also receive support, the World Bank revealed.
“The FCPF is an important mechanism for giving effect to what was agreed at the Bali climate change meetings in 2007 – that donors and developing countries should work together to trial approaches to reducing emissions from deforestation and forest degradation,” said Robin Davies, Assistant Director General, Sustainable Development Group, AusAID, representing Australia, the first donor to the facility.
“The selection of this initial group of developing country partners is an important first step in improving global understanding of ways to reduce forest carbon emissions and lift forest-dependent communities out of poverty.”
The grant money being provided to the first 14 developing countries in the FCPF will help them to prepare for future systems of positive incentives for reducing emissions from deforestation and land degradation (REDD), in particular by establishing emissions reference levels, adopting REDD strategies, and designing monitoring systems. 
The FCPF has created a true partnership where developing countries and developed countries, alongside the World Bank, are working in a transparent and participative way to learn and support each other in the readiness process for REDD,” added National Clean Development Office Coordinator in Bolivia, Gisela Ulloa.
Deforestation and forest degradation together are the second leading man-made cause of global warming.
“They are responsible for about 20 per cent of global greenhouse gas emissions, and the main source of national emissions in many developing countries,” explained Manager of the World Bank’s Carbon Finance Unit, Joëlle Chassard.
“For that reason, we have been eager to initiate this partnership and assist countries while building a body of knowledge on how best to reduce greenhouse gas emissions by protecting forests and helping the people who benefit from them. (www.caribbean360.com)

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