SURINAME-Suriname receives funding from the REDD+ program.

PARAMARIBO, Suriname, CMC -Suriname is to receive a significant amount of funds following a “historic breakthrough” in the country’s environmental policy and its participation in the Reducing Emissions from Deforestation and Forest Degradation (REDD+) program; it has been officially announced here.

The REDD+ is a United Nations Framework Convention on Climate Change (UNFCCC) program that helps countries reduce deforestation and forest degradation emissions. The program also encourages the conservation and sustainable management of forests.

The state-owned Communication Service Suriname (CDN) said that the Korea-based Green Climate Fund (GCF) is preparing to award Surinam an estimated US$80 million in recognition of its successful efforts to reduce deforestation and forest degradation between 2018 and 2020.

Since 2012, Suriname has actively participated in the United Nations REDD+ program, which focuses on reducing greenhouse gas emissions from deforestation and forest degradation.

The funds will be used for projects that contribute to forest conservation, biodiversity protection, and the socio-economic development of local communities.

CDN said that in 2018-2020, in collaboration with various partners, Suriname generated approximately 10 million REDD+’ results units’. These units, which quantify the reduced CO2 emissions, have been thoroughly evaluated and validated by an independent commission of the UNFCCC. The results have been officially published on the Lima platform, with which Suriname underlines its leading role in sustainable forest management.

GCF recently introduced a new program that offers financial compensation for achieving REDD+ results. Suriname’s ‘results units’ collected between 2018 and 2020 are now eligible for payment.

“At a rate of eight US dollars per unit, this translates into a total financing of approximately eighty million US dollars for Suriname. Access to these financial resources is partly due to Surinam’s strategic diplomatic efforts.”

It said that during the COP 16 conferences in Cali, Colombia, and COP 29 in Baku, Azerbaijan, constructive consultations occurred between Surinamese representatives led by the Minister of Spatial Planning and Environment, Marciano Dasai, and the GCF.

“While the new GCF program for REDD+ results was initially intended for 2024-2027, the ministry has achieved through negotiations and lobbying that Suriname is already eligible for funding.

“This achievement underscores the importance of proactive and strategic action internationally. The ministry has demonstrated that through focused efforts and constructive dialogues with international partners, Suriname can effectively promote its interests and achieve concrete results,” according to the statement.

Following the GCF’s positive findings, Suriname immediately started preparing a concept note in collaboration with its partners. This concept note is expected to be submitted to the GCF in the first quarter of 2025.

“The financial support of the GCF will play a crucial role in the sustainable development of Suriname. The resources will be used for projects that contribute to forest conservation, biodiversity protection, and the socio-economic development of local communities. Suriname at this moment confirms its position as a forerunner in the pursuit of a green economy,” the statement added.