Notes from a side event at the IMF/World Bank 2016 annual meetings on how the World Bank Group can ensure that its financial intermediary investments are consistent with its forest and climate commitments.
Notes from a meeting during the IMF/World Bank 2016 spring meetings with a presentation and dialogue with CSOs on the Bank's new Forest Action Plan.
The World Bank has released its Forest Action Plan, but civil society raised concerns, including regarding lack of impact in light of the outcomes of the safeguards review and the links to the Forest Carbon Partnership Facility.
World Bank is called to take a leadership role in reducing deforestation and promote community forest management, including through its new Forest Action Plan.
Six new countries were invited to join the Forest Investment Program (FIP), with a further nine invited to develop investment plans, despite insufficient funds. Potential support for oil palm plantations in Democratic Republic of Congo and industrial logging in Indonesia and Peru were questioned.
Options for potential new funding for the Forest Investment Program have been further elaborated, including priority rankings for current and potential new pilot countries, however, funding constraints remain and many current projects continue to be delayed.
The World Bank's delayed forest action plan is expected to be open for stakeholder comments for two weeks during the autumn.
US has abstained from voting on an IFC investment in a forestry project in Mozambique, raising concerns about environmental and social impacts.
The World Bank board has approved the action plan in response to the Inspection Panel report on the Kenya Sengwer case. The Sengwer indigenous community welcomed the action plan but demanded recognition of their status as "custodians" of the Embobut forest.
World Bank continues to strongly back REDD+ forest projects, which have been criticised for not consulting indigenous peoples or respecting land rights.