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Financing sustainable cocoa in Côte d’Ivoire: dialogue launched

Financing sustainable cocoa in Côte d’Ivoire: dialogue launched

Côte d'Ivoire is the world's largest cocoa producer. The country also has one of the world’s highest deforestation rates. To address this challenge, the Government of Côte d’Ivoire, the Finance Initiative of the United Nations Environment Programme (UNEP FI) and the EU REDD Facility have launched a partnership on sustainable financing solutions for zero-deforestation commodities.


Delegates at the launch event opened by H.E. Joseph Séka Séka, Cote d’Ivoire’s Minister of Environment and Sustainable Development by EU REDD Facility/UNEP FI 

The partnership will aim to promote viable financial mechanisms for the development of zero-deforestation cocoa production in Côte d’Ivoire, in particular through agroforestry. These efforts will support the country’s ambitious commitments to decouple commodity production from deforestation and restore its forests.

The partnership was launched on 18 and 19 October 2018 in Abidjan. Participants at the launch event included representatives from national and international financial institutions, cocoa and forest companies, government, international donors and civil society.

The event was opened by H.E. Joseph Séka Séka, Minister of Environment and Sustainable Development, who underlined the urgency to scale up action to reach the country’s climate commitments. The two-day event consisted of multiple panel discussions and a technical workshop. Participants discussed barriers and opportunities to the financing of agroforestry investments. A key objective of the partnership is the development of innovative financing facilities with partner companies to launch concrete and viable solutions at scale.

This launch event was organised by UNEP FI and the EU REDD Facility. The event’s partners included the Coffee Cocoa Board, Côte d'Ivoire’s REDD+ Secretariat of the Ministry of Environment and Sustainable Development, the Professional Association of Banks and Financial Institution of Côte d'Ivoire, the Ministry of the Economy and Finance, the Ministry of Water and Forests, and the World Agroforestry Centre.

The launch event constituted a first step in building the partnership on financing zero-deforestation commodities, which will gather interested parties from the government, the cocoa sector, international and local financial institutions and technical partners. In 2019, a second event will focus on concrete financing solutions for zero-deforestation commodities and the role of the various actors in their implementation.

 

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