Oslo Meeting Reaches Agreement on Financing and Quick-Start Measures for REDD

27 May 2010: Representatives of 50 countries met in Oslo, Norway, on 27 May 2010, to conclude an agreement on financing and a framework to rapidly operationalize measures for reducing emissions from deforestation and forest degradation (REDD). Countries also pledged almost US$4 billion to quick-start implementation between 2010-2012.

The Declaration describes the intent of partner governments to provide a voluntary, non-legally binding framework for the interim REDD+ partnership, whose purpose is to serve as an interim platform for partner governments to take immediate action to scale up REDD+ actions and finance, while a future mechanism under the UNFCCC is negotiated and implemented. The Declaration highlights the inclusion of representatives of relevant stakeholders, including indigenous peoples, and establishes an organisational framework for the partnership, as well as secretariat services, which will be provided jointly by the UN and the World Bank. The partnership is meant to support and contribute to the UNFCCC process, as well as to promote transparency around financing and existing and new international initiatives to reduce deforestation and degradation of tropical forests.

"This could be an important step forward in the run-up to the climate negotiations in Mexico later this year,” said Norwegian Prime Minister Jens Stoltenberg at the Oslo Climate and Forest Conference. [Norwegian Office of the Prime Minister Press Release]