Today’s post is going to be short and sweet. The subsidiary bodies under the Convention, the SBI and SBSTA, are scheduled to close tomorrow at noon. As usual at this point in negotiations, Parties still have a significant amount of work to do and have thus sequestered themselves in the many meeting rooms here at the National Stadium to work through the remaining issues. REDD+ negotiators still have to deal with draft decisions on RL technical assessment (which they were unable to complete last night), measuring, reporting, and verification, and coordination of finance for implementation of REDD+ activities.
With every last REDD+ negotiator locked away, there is not much for us in civil society to do but wait and see what happens. The work programme on results-based finance for REDD+ begins tomorrow, adding yet another item to negotiators’ already full plates. Parties will first hear the report from two workshops held earlier this year on results-based finance to progress the full implementation of REDD+ activities.
Results-based finance means different things to different Parties. The (arguably) majority view is that it refers to payments to REDD+ countries based on verified reductions of CO2 emissions resulting from the five activities defined in the Cancun Agreements: reducing emissions from deforestation, reducing emissions from forest degradation, conservation of forest carbon stocks, sustainable management of forests, and enhancement of forest carbon stocks. Although this might seem relatively straightforward, it is decidedly not. And, because I promised this will be a short post, I am going to leave you in suspense—stay tuned for tomorrow’s report on REDD+ finance!