Making REDD+ pay: Shifting rationales and tactics of private finance and the governance of avoided deforestation in Indonesia’
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In: Asia Pacific Viewpoint, Vol. 56, No. 1, 01.04.2015, p. 6-20.
Research output: Journal contributions › Journal articles › Research › peer-review
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TY - JOUR
T1 - Making REDD+ pay
T2 - Shifting rationales and tactics of private finance and the governance of avoided deforestation in Indonesia’
AU - Dixon, Rowan
AU - Challies, Ed
PY - 2015/4/1
Y1 - 2015/4/1
N2 - This paper presents an analysis of changing rationales and tactics among actors engaged in mobilising private finance for Indonesia's emergent Reducing Emissions from Deforestation and Forest Degradation (REDD+) programme. Despite limited flows of private finance so far, private sector actors have been responsible for a great deal of development and innovation in the forest carbon sector in Indonesia, and have thus played – and continue to play – an important part in shaping the country's REDD+ programme. Drawing on extended field research and interviews with key actors engaged with REDD+ in Indonesia, we identify a variety of private investor motivations, strategies and tactics, many of which depart considerably from the common understanding of REDD+ as avoided deforestation funded through carbon offsets. As non-state actors increasingly shape emerging REDD+ projects, they assume important roles as agents of environmental governance – working through a variety of private market and hybrid modes of forest/climate governance. We describe four general modes of engagement, centred around: investment in REDD+ verified emissions reductions; corporate social responsibility; sustainable commodities; and impact investment. The research thus contributes to an improved understanding of the nature of private REDD+ finance in Indonesia, and the implications, potential and limits of private, market-based climate governance.
AB - This paper presents an analysis of changing rationales and tactics among actors engaged in mobilising private finance for Indonesia's emergent Reducing Emissions from Deforestation and Forest Degradation (REDD+) programme. Despite limited flows of private finance so far, private sector actors have been responsible for a great deal of development and innovation in the forest carbon sector in Indonesia, and have thus played – and continue to play – an important part in shaping the country's REDD+ programme. Drawing on extended field research and interviews with key actors engaged with REDD+ in Indonesia, we identify a variety of private investor motivations, strategies and tactics, many of which depart considerably from the common understanding of REDD+ as avoided deforestation funded through carbon offsets. As non-state actors increasingly shape emerging REDD+ projects, they assume important roles as agents of environmental governance – working through a variety of private market and hybrid modes of forest/climate governance. We describe four general modes of engagement, centred around: investment in REDD+ verified emissions reductions; corporate social responsibility; sustainable commodities; and impact investment. The research thus contributes to an improved understanding of the nature of private REDD+ finance in Indonesia, and the implications, potential and limits of private, market-based climate governance.
KW - Geography
KW - Economic geography
KW - Environmental governance
KW - Climate change mitigation
KW - Private governance
KW - Financialisation
UR - http://www.scopus.com/inward/record.url?scp=84926436173&partnerID=8YFLogxK
U2 - 10.1111/apv.12085
DO - 10.1111/apv.12085
M3 - Journal articles
VL - 56
SP - 6
EP - 20
JO - Asia Pacific Viewpoint
JF - Asia Pacific Viewpoint
SN - 1467-8373
IS - 1
ER -