REDD+ FINANCING: BIOCF AND FCPF
WORLD BANK CARBON FINANCE UNIT
Mirko Serkovic
April 2014
2
• RBF involves testing mechanisms whereby the country (or actors within the countries)
would receive payments against de...
3
WORLD BANK FINANCING INSTRUMENTS FOR REDD+
• Two instruments managed by the World Bank offer this type of
results based ...
4
• Both instruments offer:
– New incentives for sustainable land-use that contribute to sustainable
development goals
– P...
5
DIFFERENCES
FCPF
Carbon Fund
• $465 million for 4 large-scale
programs
• Operates through 2020
• Exclusively REDD+
• Off...
6
PHASES OF REDD+
Results-based actions fully
measured, reported
and verified
Implementation of national
strategies, actio...
7
THE TIME TO ACT IS NOW - WE HAVE “THE WIND AT OUR BACK”:
7
“Supply side” changes:
• Increased donor interest to invest i...
8
Key features:
• Implementing sustainable forest management and agroforestry as a
conservation and climate change adaptat...
9
BIOCF EXAMPLE: ETHIOPIA
Participatory Forest
Management
Increase
agricultural
productivity
Improve cooking
stoves / biog...
10
Thank you!
Mirko Serkovic
Email: mserkovic@worldbank.org
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REDD+ financing: BioCarbon Fund Initiative and the Forest Carbon Partnership Facility Carbon Fund

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The presentation of Mirko Serkovic, of the World Bank, to the IIED-hosted Moving ahead with Reducing Emissions from Deforestation and forest Degradation (REDD+) workshop on 9-10 April 2014.

The presentation, made in the third session on experiences from the ground and REDD+ financing, focused on the BioCarbon Fund Initiative for Sustainable Forest Landscapes and the Forest Carbon Partnership Facility Carbon Fund.

More information on the World Bank's work: http://www.worldbank.org/.

Further details of the workshop and IIED's work on REDD+ are available via http://www.iied.org/coverage-moving-ahead-redd-prospects-challenges-workshop.

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REDD+ financing: BioCarbon Fund Initiative and the Forest Carbon Partnership Facility Carbon Fund

  1. 1. REDD+ FINANCING: BIOCF AND FCPF WORLD BANK CARBON FINANCE UNIT Mirko Serkovic April 2014
  2. 2. 2 • RBF involves testing mechanisms whereby the country (or actors within the countries) would receive payments against demonstrating results towards REDD+ • These results could be: 1. Proxies to emissions reductions, such as policy reforms that create an enabling environment to reducing deforestation or investments towards law enforcement or towards creating incentives for agriculture expansion into degraded areas (as opposed to expanding into primary forests); 2. GHG emissions reduction from deforestation verified by a third party THE NEED FOR RESULTS-BASED FINANCING (RBF) FOR REDD+ Intermediary Indicators •XX HAs under community management •YY HAs under conservation agriculture •Land use plan adopted •… Emissions Reductions • Measured against an agreed baseline and verified by a third party Y1Y2Y3Y4Y5…Y30 REDD+ sustainability and scale up
  3. 3. 3 WORLD BANK FINANCING INSTRUMENTS FOR REDD+ • Two instruments managed by the World Bank offer this type of results based financing: Forest Carbon Partnership Facility (FCPF) • The FCPF’s Carbon Fund is designed to pilot performance-based payments for emission reductions from REDD+ programs in a small number of FCPF countries BioCarbon Fund (BioCF) • Through the Initiative for Sustainable Forest Landscapes (ISFL) the BioCF promotes and rewards GHG emissions reductions from the land sector, including REDD+, more sustainable agriculture, as well as smarter land use planning and policies
  4. 4. 4 • Both instruments offer: – New incentives for sustainable land-use that contribute to sustainable development goals – Performance-based payments for verified emission reductions – Scalable approaches through Emissions Reductions Programs – Technical assistance on REDD+ – Valuable co-benefits (biodiversity, rural poverty, social, etc.) – Diversity of learning opportunities that address drivers of deforestation – Others… SIMILARITIES
  5. 5. 5 DIFFERENCES FCPF Carbon Fund • $465 million for 4 large-scale programs • Operates through 2020 • Exclusively REDD+ • Offers access to cutting-edge knowledge on REDD+ through a network of other participant countries • Experience with working towards alignment of national REDD+ frameworks • Others… BioCF Initiative for Sustainable Forested Landscapes • $300 million for 4 large-scale programs • Operates through 2030 • Integrated landscape-level interventions (REDD+ and other land uses) • Includes significant portion of grant funding to build the enabling environmental for ER payments • Focused on private sector engagement, targeting commodities that lead to deforestation • Others…
  6. 6. 6 PHASES OF REDD+ Results-based actions fully measured, reported and verified Implementation of national strategies, action plans + capacity building + results-based demonstration activities Development of national strategies, action plans + capacity building 1- Readiness 2- Investment 3- Payments for results
  7. 7. 7 THE TIME TO ACT IS NOW - WE HAVE “THE WIND AT OUR BACK”: 7 “Supply side” changes: • Increased donor interest to invest in the forest & climate nexus Additional $470m pledged since COP19 with indications for more to come. (Interest in REDD+, Landscape Restoration, Agroforestry, Climate-Smart Agriculture) • Increasing private sector investments (international & national) • “Demand side” changes: • Big commitments from multi-nationals to make their supply-chains deforestation- free. (Commodity Roundtables, Certification) • High interest from country governments to participate in emerging global forest & climate financing mechanisms and to be part of the current “global community of practice for REDD+” (as seen in recent additions to the FCPF). “Consumer side” changes: • Lacy Act, FLEGT, EU Timber Regulation • Public procurement
  8. 8. 8 Key features: • Implementing sustainable forest management and agroforestry as a conservation and climate change adaptation instrument • Increasing sustainable wood production and consumption (to replace higher GHG-emitting construction materials) • Adding value to forest lands and forest products (e.g.,timber for building materials) to contribute to poverty • Embedded in broader national goal of carbon neutrality and poverty reduction FCPF EXAMPLE: COSTA RICA Sustainable Forest Management
  9. 9. 9 BIOCF EXAMPLE: ETHIOPIA Participatory Forest Management Increase agricultural productivity Improve cooking stoves / biogas Intensified livestock management Integrated Landscape Management
  10. 10. 10 Thank you! Mirko Serkovic Email: mserkovic@worldbank.org

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