Brazil becomes the first nation to receive results-based payment through the REDD+ programme.
The South American nation has received 96 million USD as part of the Green Climate Fund’s REDD+ results-based payments, for emission reductions achieved for the period 2014-2015.
The funding will be used by Brazil to pilot an environmental service incentive program known as “Floresta+” for conservation and recovery of native vegetation, and for strengthening the implementation of Brazil’s REDD-plus strategy. All of which ultimately contributes to the achievement of Brazil’s national climate action plan.
Following the Warsaw Framework for REDD-plus adopted at the UN Climate Change Conference COP19, Brazil was the first country to voluntarily submit and have a forest reference emission level technical assessed.
It also became the first country to submit REDD-plus results in a technical annexe to the Biennial Update Report (BUR) for technical analysis and now it is the first country to receive results-based payments from the Green Climate Fund.
To read the original story, click here.
An international media platform that covers positive news, stories of young adults chasing their dreams, and various sources of inspiration.