Abstract
While there is broad consensus that forest emission reductions and removals are needed to meet the 1.5°C goal formulated under the Paris Agreement, finance for forest conservation and restoration activities as well as the conceptual aspects of forest finance mechanisms remain a key issue. This chapter analyses the evolution of and experiences with different finance instruments and frameworks, focusing in particular on the Clean Development Mechanism (CDM) and the international framework known as REDD+. Two case studies - one on carbon market activities in East Africa and one on the implementation of REDD+ in Peru - reflect how the mobilization of financial resources for forests evolved under the United Nations Framework Convention on Climate Change (UNFCCC) and what opportunities and challenges emerged over time. Finally, the chapter presents an outlook on what is needed to scale up finance for forests in the context of the Paris Agreement (PA).
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