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Forest Carbon Partnership Facility - Forest Carbon Fund

The Forest Carbon Partnership Facility (FCPF) is a global partnership of governments, businesses, civil society, and Indigenous Peoples focused on reducing emissions from deforestation and forest degradation, forest carbon stock conservation, the sustainable management of forests, and the enhancement of forest carbon stocks in developing countries (activities commonly referred to as REDD+).

The FCPF has two separate but complementary funding mechanisms — the Readiness Fund and the Carbon Fund.

The Carbon Fund provides payments for verified emission reductions from REDD+ programs in countries that have made considerable progress towards REDD+ readiness. Carbon Funds payments are designed to help countries and their stakeholders achieve long-term sustainability in financing forest conservation. They are intended to help reduce climate change impacts from forest loss and degradation by making forests more valuable standing than cut down.

Assistance is divided into four main categories:

General Economic Policies and Regulations: taxation, subsidies, rural credit, certification, law enforcement)
Forest Policies and Regulations: taxation, subsidies, certification, concession regimes, securing land tenure and land rights, forest law, governance and enforcement, zoning, protected areas, payments for environmental services (PES)
Forest Management: forest fires, reduced impact logging, reforestation
Rural Development: community development, rural electrification, community forestry

Support provider

Australia, BP Technology Ventures, Canada, CDC Climate, European Commission, Germany, Norway, Switzerland, The Nature Conservancy, United Kingdom, United States

Purpose of support

Project and program implementation

Eligible countries and regions

The FCPF is open to REDD+ Country Participants. REDD+ Country Participants are defined as developing countries located in a subtropical or tropical area that has signed a Participation Agreement to participate in the Readiness Fund. Forty-seven developing countries have been selected to join the FCPF (18 in Africa, 18 in Latin America, and 11 in the Asia-Pacific region).

The Carbon Fund is only open to those countries that have prepared a Readiness Preparation Proposal, and have had their Readiness Package (R-Package) endorsed by the PC under the Readiness Fund of the Forest Carbon Partnership Facility (FCPF).

Eligibility criteria

The Carbon Fund Participants will select around five emission reduction (ER) Programs using criteria related to the REDD Country’s political commitment and readiness progress to date, the scale of the program and potential to generate a large volume of high-quality and sustainable ERs, the technical soundness, stakeholder participation, and noncarbon benefits of the ER Program. Sufficient diversity to generate learning value across the Carbon Fund portfolio will further factor into program selection.

Financial instruments

Results-based finance

Co-financing requirements (if applicable)

Carbon Fund payments will be complementary to financing from other sources, e.g., the government’s own budget, World Bank financing, loans or grants from the Forest Investment Program, the Global Environment Facility, bilateral donors, or the private sector.

Decision-making information

The Forest Carbon Partnership Facility (FCPF) is made up of three categories of participants:

REDD+ Country Participants from tropical and subtropical regions of the globe;
Donor Participants, who contribute to the Readiness Fund;
Carbon Fund Participants, who contribute to the Carbon Fund.

Together, these participants make up the decision-making body of the FCPF, the Participants Assembly (PA) and the Participants Committee (PC). The World Bank provides secretariat services through a Facility Management Team. Participants Committee and Participants Assembly are at the core of its governance structure. The Participants Committee is the main decision-making body of the FCPF, and meets twice a year to review submissions and select new participant countries, as well as approve funding allocations, rules of procedure, budgets and new methodologies. The Participants Assembly meets annually to elect the Participants Committee and provide general guidance.

Monitoring and reporting procedures

Reporting and monitoring take place at the program and country-level.

At the FCPF program level, the Facility Monitoring and Evaluation (M&E) Framework is designed to keep track of the performance of the Facility. The M&E Framework consists of a structure and system to ensure that all key data is collected, analyzed and used in a way that helps ensure lesson learning and adaptive management at the Facility level.

At the country-level, national M&E systems are fundamental to robust REDD program design. M&E systems help a country keep track of its activities, results and readiness progress and identify and address gaps, shortfalls, and program underperformance as they emerge. The M&E Framework uses the readiness requirements set out for each component in the Readiness Assessment Framework to help guide country reporting.

Detailed guidance and templates can be found here.

Information on how to...

Understand steps to access

Access readiness and preparatory support

Climate objective

Mitigation

Sectors and themes

Forestry and Land-Use

Type of support provider

Other

Type of recipient

Public entity at the national level, Public entity at the sub-national level, Public entity at the regional level

Fund size

USD 900 million

Co-financing required

Yes

Trustee or administrator

World Bank

Contact information

http://www.forestcarbonpartnership.org/carbon-fund-0

fcpfsecretariat@worldbank.org

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Forest Carbon Partnership Facility - Forest Carbon Fund

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