Engaging the Private Sector on Biodiversity in Emission Reductions Programs [Nov 5, 2020]

As part of the FCPF Knowledge Day this fall, the FCPF hosted an online seminar to discuss the critical role that the financial and private sector plays in addressing the global biodiversity crisis.  Biodiversity is declining at rates unprecedented in human history, posing grave risks to human welfare around the world. The Global Biodiversity Outlook 5, the flagship publication of the Convention on Biological Diversity (CBD) that was presented at the UN Summit of Biodiversity in September, concluded that the world has failed to meet a single biodiversity target set in 2010 and that there is a US$700 billion funding gap to restore nature. Few governments have made financial commitments to contribute to this gap. A mix of solutions is needed to meet these goals, ranging from policy changes and sectoral initiatives to innovative financial mechanisms. In this moment of global crisis, conserving and sustaining biodiversity serves as a major strategic objective for the FCPF. In fact, biodiversity preservation is distinctly synergistic with emission reductions, as it contributes to protecting forest ecosystems and represents a key non-carbon benefit to stakeholders. Through its approach to REDD+, the FCPF tests ways to sustain or enhance livelihoods of local communities and conserve biodiversity.

This event was chaired by Jean-Dominique Bescond, Senior Private Sector Specialist at the World Bank Group [Presentation].

The speakers at the event were:

• Sareh Forouzesh, Associate Director of Forests at CDP [Presentation] 
• Irina Likhachova, Senior Operations Officer with the IFC Climate Business Department
• Thomas Maddox, Senior Specialist on Business and Biodiversity at Fauna & Flora International [Presentation] 
• Gianni Ruta, Senior Environmental Economist at the Environment, Natural Resources and Blue Economy Global Practice at the World Bank Group [Presentation]
• Fiona Stewart, Lead Financial Sector Specialist with the Long-term Finance Team with the World Bank's Finance, Competitiveness & Innovation Global Practice.

Maximizing Financing for Jurisdictional REDD+: Managing “Nesting” Effectively [Nov 10, 2020] 

As part of the FCPF Knowledge Day this fall, the FCPF hosted an online seminar to examine how different nesting models work and what is needed to enable their implementation.  REDD+ programs may be implemented at multiple scales within a country—for example, at the project, subnational, and national levels. Nesting allows for the coordination and harmonization of carbon accounting under these activities, helping avoid the double-counting of emission reductions and removals. Nesting also allows countries to access additional market and non-market sources of climate finance, encourage private sector investment, and harness a broader array of technical, financial, and human inputs for REDD+ implementation. This event emphasized how actions at smaller scales can best be catalyzed to contribute to larger-scale jurisdictional performance.

This event was chaired by Andres Espejo, Methodology Specialist at the World Bank Group, and a Natural Resources and Forestry Engineer [Presentation]. 

The speakers at the event were:

• Charlotte Streck, Director of Climate Focus [Presentation] 
• Donna Lee, Independent Climate Change and Land Use Consultant  

Maximizing Financing for Jurisdictional REDD+: Accessing Complementary Sources of Climate Finance [Nov 11, 2020] 

As part of the FCPF Knowledge Day this fall, the FCPF hosted an online seminar to examine how countries can access different non-market and market-based finance sources.  Beyond the FCPF, numerous other market and non-market sources of climate finance are available to REDD+ countries. The private sector is becoming ever more interested in investing in REDD+ via the acquisition of Emission Reductions, dwarfing the finance available under the previous pilots.  A key aspect in attracting the private sector is to target Emission Reductions that are market-compliant, which is demonstrated by complying with the requirements of standards that already exist in the market. However, private investors and buyers have additional requirements for providing upfront finance and purchase Emission Reductions.

This event was chaired by  Andres Espejo, Methodology Specialist at the World Bank Group, and a Natural Resources and Forestry Engineer. 

The speakers at the event were:

• Juan Chang, Principal Forest and Land Use Specialist of the Green Climate Fund (GCF) [Presentation] 
• Leslie Durschinger, Founder of Terra Global Capital [Presentation]
• Manuel Estrada, REDD+ and AFOLU Director at Verra 
• Jessica Orrego, Director of Forestry at the American Carbon Registry (ACR) and member of the Secretariat of the Architecture for REDD+ Transactions (ART) [Presentation]
• Angelo Sartori, Director for Latin America and the Caribbean at Verra [Presentation]