FP019

Priming Financial and Land Use Planning Instruments to Reduce Emissions from Deforestations

Priming Financial and Land Use Planning Instruments to Reduce Emissions from Deforestations

Reducing deforestation in Ecuador by investments to support sustainable agricultural production and conservation of forests.

The Reducing Emissions from Deforestation and forest Degradation (REDD) mechanism has been boosted by the Warsaw Framework on REDD+ under COP19. The decisions taken specified that countries would develop work programmes to address deforestation, and anticipated that applications for support in results-based financing could be made to the Green Climate Fund.

Deforestation levels in Ecuador amounted to 109,000 hectares per year between 2000 and 2009, with over 99% of deforested land being transformed into agricultural areas. Ecuador’s REDD+ Action Plan addressed the drivers of this deforestation.

GCF’s investment will co-finance the Action Plan. Targeted investment will control agricultural expansion into forest areas, whilst agricultural and livestock production practices will be implemented to reduce deforestation. Land-use zoning plans will be aligned with national climate change-related targets, and measures will be implemented to support restoration, conservation and sustainable production in vulnerable watersheds. The project will also ensure that financial instruments are aligned with the objectives of the action plan, by orienting public credit lines towards sustainable agricultural production practices, promoting tax incentives for REDD-supportive activities, and strengthening purchasing policies for deforestation-free commodities, their certification and traceability.

The project has an estimated lifespan of 5 years.

Total project value

 

Tonnes of emissions avoided

 

Beneficiaries

 

Direct
60,000
Indirect
390,000
Theme

Mitigation

Result areas

Project timeline

Pipeline

29 May 2015 - 505 days

Concept note received

29 May 2015

Funding proposal received

04 Dec 2015

Cleared by GCF Secretariat

30 Jul 2016

Legal opinion on AE's Internal Approval

28 Sep 2016

Approved

14 Oct 2016 - 221 days

Approved by GCF Board

14 Oct 2016

Cleared by iTAP

14 Oct 2016

FAA executed

19 May 2017

Under implementation

22 May 2017 - 1,008 days so far

FAA effective

22 May 2017

Disbursement - USD 7,901,895

04 Jul 2017

Annual Performance Report

23 Mar 2018

Annual Performance Report

01 Mar 2019

Disbursement - USD 10,724,992

22 Mar 2019

Disbursement - USD 11,156,592

03 Feb 2020

Completed

22 May 2022 - 819 days to go

One region

  • Latin America and the Caribbean

One country

USD  
  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing35% disbursed

InstrumentAmount
GrantUSD 41,172,739

Cofinancing

CofinancerInstrumentAmount
Co-FinancingGrantUSD 40,245,550
Co-FinancingGrantUSD 1,769,458
Co-FinancingGrantUSD 820,900

GCF Project Team

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GCF Communications
Phone +82 32 458 7751
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Project complaints and grievances

GCF Independent Redress Mechanism (IRM)
Phone +82 32 458 6157
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Integrity issues

GCF Independent Integrity Unity (IIU)
Phone +82 32 458 6155
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Accredited Entity

National Designated Authority

News + Stories

Forests: A cause of climate concern, and hope

15 Aug 2018 / You don’t know what you’ve got until it’s gone.