On November 29, over 100 participants representing government departments, international donors and provinces that implement Reducing Emissions from Deforestation and Forest Degradation (REDD+) gathered in Hanoi for a National Consultation Workshop on the Third Draft Proposal on Establishment of a Viet Nam REDD+ Fund. The consultation was organized by the Viet Nam Administration of Forestry (VNFOREST) and supported by the USAID-funded Lowering Emissions in Asia’s Forests (LEAF) program and UN-REDD.
Discussions covered the need for a national REDD+ fund in Viet Nam, how such a fund should be structured and managed, and potential funding sources. Ways to increase private sector engagement by using REDD+ funds to underwrite risk related to private sector emissions reduction investments were also highlighted.
The consultation concluded with a request from the Vietnamese Government for international support to integrate donor and UNFCCC related requirements into the REDD+ Fund proposal, including financial and fiduciary standards and safeguards. LEAF will continue to support this process, aiming to establish a national REDD+ Fund in Viet Nam in 2014.
Related Website: The Lowering Emissions in Asia’s Forests (LEAF) program
Source: USAID/RDMA Regional Environment Office Weekly