TFG has coauthored a groundbreaking new report on the possibilities for REDD+ interim public finance. The report, accessed here, incorporates lessons learned to-date in the REDD+ sphere, as well as key opportunities for utilizing the $3.5-4.5 billion in Fast Start funding.
Recommendations for funding over the next three years include the need to develop "compliance-grade" REDD+ credits that could potentially sync with future regulatory carbon markets, while building the capacity for national REDD+ frameworks. Supporting state and province-wide initiatives is critical as well, as sub-national governments typically have greater jurisdiction over forests, and have the ability to provide critical momentum towards national programs. Additional opportunities include developing public-private partnerships to provide risk mitigation for private investors, and addressing the major driver of deforestation, agriculture, by supporting progressive new certification systems that preclude the possibility of clearing virgin forest for planting. To date, "commodity roundtables" involving 30% of global soy producers, 50% of palm oil, and 60% of sugar/ethanol are currently working towards certification, yet a high cost of compliance remains the major obstacle. The report also suggests increasing collaboration with indigenous and forest communities, as well as strengthening civil society and local NGO’s that could provide valuable input for the development of either project level, sub-national, or national REDD+ programs.