It seeks to promote reduced greenhouse gas emissions from the land sector, including REDD+ (Reducing Emissions from Deforestation and forest Degradation), more sustainable agriculture, as well as smarter land use planning and policies.
The ISFL is intended to operate at a jurisdictional level in an area endorsed by the national government (e.g. a single geographic or political unit, such as a state or province, or even an entire country).Supported programs are therefore expected to take place at significant scale and policy interventions could thus impact the whole jurisdiction.
The ISFL spans the suite of BioCFplus-ISFL funds (primarily for technical assistance, capacity building, and implementation) and BioCF T3 (primarily for ER payments).Committed funding to the BioCFplus-ISFL funds and BioCF T3 at the end of FY15 totals almost $355 million, with $88 million committed to BioCFplus-ISFL and $265 committed to BioCF T3.
Ethiopia: Oriomia Forest and Wildlife Enterprise and regional bureaus.
Zambia: National Climate Change Secretariat
Colombia: Ministry of Agriculture and Rural Development, Ministry of Environment and Sustainable Development
The governance structure of the BioCarbon Fund is set up to encourage participation and knowledge sharing among all involved stakeholders.
The Participants in the fund are involved in decisions on inclusion of projects in the portfolio as well as review of proposed annual activity reports and annual budget and business plans. Participants meet once a year with additional virtual or in-person meetings as needed. The World Bank serves as the Trustee of the BioCarbon Fund.
Day-to-day operation of the BioCarbon Fund is handled by the
BioCarbon Fund team that is part of the World Bank’s Carbon Finance
Unit within the Climate Policy and Finance Department. The team is
responsible for supervising and monitoring BioCarbon Fund activities,proposing new projects to the Participants for review, serving to facilitate interactions with the Participants, and developing the land-use sector based on broad discussions with the public and private sector as well as market regulators.
Projects are expected to be part of the UNFCCC’s Clean Development