Armin Sandhoevel, Allianz Climate Solution, said: “Allianz believes in the utmost relevance of forest-related projects such as REDD+, alongside with Programme of Activity (PoA) and small scale renewable energy projects, because they offer an outstanding value to the protection of biodiversity and to climate change mitigation by combining a wide array of activities into one project. But in order for the private investors to fully mobilize around REDD+ activities, we feel that some issues must be addressed. Credits derived from avoided deforestation projects need to be part of compliance schemes, and the projects need a robust domestic legal framework that allows investors to get involved with a long term perspective. Moreover reliable and rigorous standards for carbon credits derived from avoided deforestation are a pre-condition for long term price estimates, which are crucial for investors. We think UNEP FI is the adequate platform to talk to decision makers on how the REDD+ mechanisms can potentially be improved and, by extension, how future growth of investments in forest-related projects can be encouraged.”
About UNEP FI
The United Nations Environment Program Finance Initiative (UNEP FI) is a unique global partnership between the United Nations Environment Program (UNEP) and the global financial sector. UNEP FI works closely with nearly 200 financial institutions who are Signatories to the UNEP FI Statements, and a range of partner organizations to develop and promote linkages between sustainability and financial performance. Through peer-to-peer networks, research and training, UNEP FI carries out its mission to identify, promote, and realize the adoption of best environmental and sustainability practice at all levels of financial institution operations. For more information, visit www.unepfi.org.
Source: UNEP.
