The World Bank and Other Financial Institutions
“Poverty alleviation,” “sustainability,” “prosperity” and "development" are key words in the public relations materials of the World Bank, its private arm, the International Financial Corporation (IFC), and other development finance agencies. In reality, the policies, programmes and projects promoted by these institutions have time and again caused more poverty, violence and forest destruction.
This is good news for forests, forest peoples and the climate because the IFC proposal aimed at subsidizing a carbon market for private sector REDD+ project credits for which there is neither demand nor justification.
More than one hundred organisations signed this open letter to members of the Green Climate Fund Board. The Board will be meeting from 12 to 14 November 2019, and will decide on a number of funding requests related to REDD+.
