Forests & ClimateCover of Living Forests Report, Chapter 3.
New, adequate and predictable financing, now: ZNDD can only be achieved with a major and immediate scaling up of investments in maintaining tropical forests. REDD+ is the most feasible vehicle to encourage and channel the necessary public and private finance to this effort. Though the sums needed appear large, delaying action will greatly increase the long-term costs of coping with climate change.
Estimates on REDD+ financing needs vary, but suggest at least US$42 billion a year will be needed by 2020: existing pledges up to 2012 stand at just US$7 billion. In addition to national and international aid, governments need to look at innovative funding sources, such as forest bonds, financial transaction taxes and climate mitigation funding from the international aviation and shipping industries. A rapid and substantial increase in private investments is also needed.
It is time to act
Achieving ZNDD is a key part of tackling climate change by reducing CO2 emissions. The Living Forests Model projects that ZNDD by 2020 is technically feasible; REDD+ will help make this target realistic.
We must act now to halt deforestation, or the opportunity to keep global temperature rise below 2oC will be lost forever.