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European Union members are collectively the largest aid donor in the world and give over half of global aid, and the EU’s policies have a major bearing on global development—from migration, to trade, agriculture and security. CGD is bringing its innovative thinking and evidence-based, practical propositions to the unique European context.
The concept of Reducing Emissions from Deforestation and Forest Degradation (REDD+) and its framing of forest protection as a climate mitigation approach mark a clear paradigm shift – after decades of up-front financing of traditional ODA projects REDD+ follows the logic of ex-post payments for measured and verified performance within much larger jurisdictions.
Norway – a small northern country with only 5 million inhabitants – is at present a global leader in REDD+ financing. In this paper, we explain why and how this happened by telling the story about the emergence of Norway’s International Climate and Forest Initiative (NICFI) in 2007 and its institutionalization in the following years.
Tuesday’s Climate Summit in New York prompted a number of forest-related commitments, including a “Declaration on Forests” signed by 28 governments, 8 subnational governments, 35 companies, 16 indigenous peoples groups, and 45 NGO and civil society groups.
In May 2014, Nancy Birdsall, William Savedoff, and Frances Seymour visited Brazil as part of a three-country study to gain insights into the value of future expansion of performance-based payments in other countries. This brief is based on discussions with government officials, NGO staff, private entrepreneurs, and independent researchers in Brazil about the policies and programs that are associated with reduced deforestation and forest degradation in Brazil, with particular attention to the influence of the Brazil-Norway Agreement and the Amazon Fund.
Not to be melodramatic, but the official system for counting foreign aid is in crisis. The longstanding mathematical rule determining whether a loan’s interest rate is low enough to qualify it as aid has gone out of sync with the times. The rule’s benchmark interest rate of 10% per year was reasonable when adopted in 1972, but not now. Today, wealthy governments can borrow below 3%, lend a couple percent higher, come in well under the 10% bar, and count the potentially profitable lending as aid.