Original disclosure @ FMO website
Updated in EWS Jan 23, 2023
Disclosed by Bank Nov 21, 2022
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WHO IS OUR CLIENT
Conservation International Foundation (CI), a US-based NGO dedicated to nature conservation, landscape restoration and biodiversity. FMOa€™s Forestry team is looking to set up a formal partnership with CI focused on knowledge sharing, origination/early lead sourcing and ESG and impact. This project will be a pilot for this partnership. Suriname, 93% of which is covered in forest, and which has a strong local CI office in place, is the right location to pilot the partnership and for FMO to learn if and how the generation of carbon credits can play a role in forestry conservation while supporting local communities.
FMO, through BP, will provide a repayable development contribution (RDC) to CI to set up the Climate Smart Forestry Program (CSF-P). The CSF-P aims to incentivize forest conservation through generating carbon credits by i) reduced impact logging and ii) ecosystem services in the forests by local communities in Suriname. The benefits of the carbon credits will be split between the local communities, the concessionaires, the initial investors (including FMO/BP) and the Surinamese government as owner of the forest land.
WHY WE FUND THIS PROJECT
The primary objective is to examine if a possible partnership with CI is the right fit by doing a joint project. The secondary objective is to test if an innovative financing mechanism centered around carbon credits is feasible.
ACCESS TO INFORMATION
As part of FMO’s ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: firstname.lastname@example.org.
ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.