Banking on forests
The European Investment Bank’s belief in financial alchemy to fix the climate crisis: The case of the Althelia Climate Fund
Written by Antonio Tricarico, Re:Common – based on the findings of Merian Research. Text closed on 19th August 2014
The European Investment Bank is at the forefront of carbon market development through its support for REDD+ via the Althelia Climate Fund. Given the impact associated with REDD and REDD+ projects, as described above, EIB support for REDD+ through Althelia is an example of the lack of policy coherence between European development policy and the goals that the Bank claims to abide to, and the actual practice of the Bank.