Presented by Stibniati Atmadja (Científica del equipo sobre cambio climático y Desarrollo con Bajas Emisiones de Carbono de CIFOR-ICRAF) at "Ciencia y políticas públicas para mitigar la deforestación y el cambio climático: Reunión final de la plataforma de ciencia y política del GCS REDD+ Perú" on 19 December 2023, Perú.

1. The evolution of REDD+ finance
in Peru across the years
Dr. Stibniati Atmadja, CIFOR-ICRAF
s.atmadja@cifor-icraf.org
19 December 2023
GCS REDD+ Science Policy Dialogue - Peru

2. Finance from where?
Public
Private
This presentation: Developed country contributions: ODA transfers (‘REDD+
Aid’) and Voluntary Carbon Markets/VCM (‘REDD+ Market)
There are others not included (e.g., domestic funds, regional funds)
Private
(since
2021)

3. Analyses and data
REDD+ aid: ODA for REDD+
(2010-2021)
• $ committed vs. disbursed
• Who gives to who?
OECD-CRS data tagged for
REDD+ activities using
keywords
(preliminary data, not validated,
tend to underestimate due to
missing data)
REDD+ markets: REDD+
projects on VCM
Ongoing and new projects (Peru
vs. Colombia, Brazil)
Carbon credits traded
www.reddprojectsdatabase.org
(ID-RECCO), updated Sep-Oct
2022
www.reddprojects
database.org

4. REDD+ ODA Funding: Committed vs. Disbursed
Definition (OECD)
Commitme
nt
“commitment is a firm obligation,
expressed in writing and backed by the
necessary funds, undertaken by an official
donor to provide specified assistance to a
recipient country or a multilateral
organization”
Disbursem
ent
“the release of funds to or the purchase of
goods or services for a recipient; by
extension, the amount thus spent.
Disbursements record the actual
international transfer of financial
resources, or of goods or services valued
at the cost to the donor.”
Expectation:
• Commitments are Disbursed (100%
rate)
But
• Commitments often are not
disbursed (<100% rate)
Why? Some possibilities
• Donor conditions (procurement, co-
financing, aid-effectiveness),
• Recipient capacity (programming,
fund absorption),
• Both sides’ bureaucratic and
technical delays [1]
[1] Savvidou, G. "Quantifying international public finance
for climate change adaptation in Africa." Climate
Policy 21.8 (2021): 1020-1036. (link)

5. Donors and funding across the years
Total identified: $243 million (2021 peak,
$37m)
Big funders (>$3 million total):
• Regular funders: USA ($125m), Norway
($51m), Germany ($23m)
• Irregular funders: CIF ($12m), Japan ($8,6m
in 2011 only)
• New 2021 funder: Bezos Earth Funds
($15,6m)
Other funds ($10k-$3m)
• Total: $8,5m
• All irregular funders: GEF ($2,9m), Canada,
IADB, Belgium, GGGI, UNDP
• New 2021 funders: Italy, Korea, Margaret A.
Cargill Foundation
USA
Norway
Germany
Bezos Earth
Fund
CIF
Japan Others
0
5
10
15
20
25
30
35
40
USD
million
Year
REDD+ Funding Disbursements to Peru
2010-2021

6. REDD+ ODA Funding: Committed vs. Disbursed – comparison across time
Increased funding in 2020-2021 (Global + Peru)
• Yearly disbursement rates vary
(33% - >200%) .
• 2010-2021: Peru: 80.7%
disbursement.
• Commitments ($10m - $50m/yr)
vary more than disbursements
($8,4 - $37m/yr)
0%
50%
100%
150%
200%
250%
0
500
1000
1500
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Global*
Commitment Disbursement
% Disbursed
* Global figures are not comparable to
Peru’s because it is not tagged the same
way

7. Disbursement rates by type of actors
0%
50%
100%
150%
% Disbursement, by Donor
% Disbursement
0%
50%
100%
150%
% Disbursement, by Channel Location
% Disbursement
0%
50%
100%
150%
% Disbursement, by Channel Type
% Disbursement

8. Who gives to who?
2010-2021
• Largest donors (disbursed): US,
Norway, Germany
• Largest recipient: Donor and
recipient country public sectors
• US – Germany gives >45% of funds
to own country organizations (NGOs,
public sector)
• Norway gives to Third country orgs
or multilaterals
• Bezos gives 95% to US-based orgs
• Japan gives 99% to Peru-based orgs
• NGOs based in Peru receive a very
small portion of funds

9. Quick Update on REDD+ Projects in Peru + S. America
Name Peru Brazil Colombia S. America Global
# projects documented
since 2014
36 80 73 298 669
# projects ongoing in
2022
23 49 51 181 359
# new projects in 2022 4 14 19 55 89
Source: [1] ID-RECCO v.5 database, reddprojectsdatabase.org;[2] Atmadja et al, 2022

10. Quick Update on REDD+ Projects in Peru + S. America
Name Peru Brazil Colombia
S.
America** Global**
For ongoing projects 23 49 51 181 359
– total area (million ha) 9.8* 4.6 12.8 29.8 45.8
-- (vs. 2020 forest
cover, million ha) [3] 72,3 497 59,1 816,7 1.748,2
-- # projects selling
carbon credits by 2022 14 27 20 95 197
-- Total volume sold by
2022 (million tCO2 eq) 33,6 57,6 29,3 144,0 302,8
Source: [1] reddprojectsdatabase.org;[2] Atmadja et al, 2022 unless stated otherwise; [3] FAO State of the forest, 2020
(https://www.fao.org/3/ca9825en/ca9825en.pdf)
* Includes the REDD Project of the Indigenous Peoples Of Vaupés Yutucu and Others project (3,9mha) withdrawn in
document published Dec 2022 (Source: https://registry.verra.org/app/projectDetail/VCS/2251)
** Includes countries with at least 1 ongoing REDD+ project

11. Summary – REDD+ ODA
Fund commitment - disbursement
• 2020-2021 increased REDD+ ODA (Peru +
global)
• Total identified in the OECD dataset: USD
243m
• Disbursement rates differ by channel type
• Donor landscape: Regular donors (USA,
Germany, Norway), Irregular donors, and New
donors.
• Each have unique preferences on who to fund
• Peru-based NGOs and academic institutions
receive very little REDD+ funds
• Mostly channeled to/ managed by donor
country or third country organizations, and the
Peruvian government

12. Summary – REDD Markets
• REDD+ Projects in Peru, as in other countries,
end, struggle to sell credits
• A 3,9mha REDD+ project led by several
indigenous associations withdrew from VCS
citing long certification process – Will switch to
another standard
• In S. America, Colombia is the ‘hottest’ markets,
with more new projects than in other countries
• Sales from carbon may be comparable to ODA
funds, benefitting the few (14 projects) that
have started trading

13. Muchas gracias!!
www.reddprojectsdatabase.org
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