Countries need to attract significant finance to fund the transition to sustainable land use without deforestation. And REDD+ funders need a credible and transparent way to ensure results.
The Warsaw Framework was developed under the UNFCCC to promote, recognize and reward reductions in emissions from deforestation and forest degradation; however, the framework itself was not designed to meet market requirements to secure large-scale financing for forests.
As a result, investments in REDD+ to date have largely been bilateral, or multilateral via the World Bank Carbon Fund and the Green Climate Fund. These structures have been invaluable to set the stage for REDD+, and establish significant norms and capacity. However, they were also not designed to meet market requirements to drive finance at scale.
Significant new sources of government and private-sector finance can be mobilized with more rigorous jurisdictional approaches to REDD+ that meet the highest technical, environmental and social standards and are aligned with Paris Agreement commitments. ART aims to provide confidence in the environmental integrity needed to unlock finance for REDD+ at national scale.
ART will provide a credible, independent program overseen by a Board and Secretariat including a rigorous Standard to quantify emissions reductions from REDD+ activities at a national scale and a comprehensive process to transparently register, verify and issue serialized credits that represent the highest environmental and social integrity and are fungible with emissions reductions units from other sectors.