Progress on the New York Declaration on Forests

The report evaluates the effectiveness of public and private financial incentives for reducing forest emissions between 2005 and 2015. It finds that while over US$3 billion in public funds were committed to performance-based REDD+ payments by 2014, actual disbursements lagged at just over US$1 billion. The private forest carbon market experienced rapid growth until 2011 but subsequently declined, with the market value falling to approximately US$150 million by 2013. The document highlights that the voluntary carbon market alone is insufficient to scale up demand and emphasizes the need for integration into emissions trading systems.

• Between 2008 and 2014, more than US$3 billion was committed to performance-based REDD+ payments, primarily from international public sources, though actual disbursements were significantly lower at just over US$1 billion.
• The majority of public performance-based funding was committed bilaterally via Norway’s International Climate and Forests Initiative (NICFI) to Brazil, Indonesia, and Guyana, with other significant sources including Germany’s REDD Early Movers (REM) program and the FCPF Carbon Fund.
• The forest carbon market grew rapidly from US$8 million in 2005 to US$237 million in 2011, driven by the voluntary market, but then declined to approximately US$150 million by 2013.
• The decline in the forest carbon market by 2013 was primarily caused by a reduction in the volume of the secondary market, while the primary market—which directly funds emission reduction projects—continued to grow modestly.
• Public disbursements have been delayed by the 'readiness' process in forest countries (developing strategies and monitoring systems) and the administrative requirements of donors.
• The Amazon Fund, supported by Norway, Germany, and Petrobras, has seen almost US$1 billion disbursed by NICFI by 2015, using a model where BNDES issues non-transferable diplomas instead of transferring emission reduction titles.
• Market demand for forest carbon credits is limited because major compliance markets, such as the EU Emission Trading Scheme and the Clean Development Mechanism, have restricted the use of forest credits due to concerns over permanence and oversupply.

APA

Forest Declaration Assessment (2015). Progress on the New York Declaration on Forests. https://forestdeclaration.org/wp-content/uploads/2020/11/2015Goal9.pdf

Chicago

Forest Declaration Assessment. Progress on the New York Declaration on Forests. 2015. https://forestdeclaration.org/wp-content/uploads/2020/11/2015Goal9.pdf.

Wikipedia

{{cite report |author=Forest Declaration Assessment |title=Progress on the New York Declaration on Forests |date=November 2015 |url=https://forestdeclaration.org/wp-content/uploads/2020/11/2015Goal9.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{forestdeclarationassessment2015progress, author = {{Forest Declaration Assessment}}, title = {{Progress on the New York Declaration on Forests}}, institution = {Forest Declaration Assessment}, year = {2015}, month = nov, url = {https://forestdeclaration.org/wp-content/uploads/2020/11/2015Goal9.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }