REDD Plus Policy enables financial benefits
August 28, 2015 1:27 am
The Fiji Policy for Reducing Emissions from Deforestation and Forest Degradation (Fiji REDD Plus Policy) has benefited Fiji financially.
The policy was endorsed by cabinet in December 2010 after a comprehensive stakeholder consultation process that began with its first drafting in September 2009.
Speaking in Parliament Fisheries and Forests Minister Osea Naiqamu says countries with forests are benefitting financially simply by keeping their forests standing under the REDD Plus mechanism.
“In 2012 the Forestry Department embarked on a project for the implementation of the activities under the Fiji REDD Plus Policy. The main objective of the project is to ensure Fiji participates under REDD financing mechanism by end of 2015. By 2014 the World Bank had approved a grant of $US3.7m to fund the Fiji readiness activities for 4 years from 2015 to 2018. The purpose of the fund is to get prepared to participate in carbon trading from 2019 onwards.”
The policy contributes towards strengthening the country’s efforts to manage forest resources sustainably, while at the same time mitigating climate change.