In the past year, the Forest Carbon Partnership Facility (FCPF) has strengthened its partnership of countries and stakeholders working together to reduce emissions from deforestation and forest degradation, and foster conservation, sustainable management of forests, and enhancement of forest carbon stocks (REDD+). Significant progress has been made in moving from a planning stage to preparations for REDD+ “Readiness” in forested developing countries.
The 2016 Fiscal Year (FY16) report follows the structure of the Forest Carbon Partnership Facility (FCPF) program level Monitoring and Evaluation (M&E) Framework, adopted by the Participants Committee (PC) at its 14th meeting in March 2013. The M&E Framework is designed to keep track of the Facility’s performance in a way that helps to ensure that lessons can be learned and adaptive management is possible at the Facility level.
In contrast to previous annual reports, the FY13 report follows the structure of the Forest Carbon Partnership Facility (FCPF) Program Level Monitoring and Evaluation (M&E) Framework, adopted by the Participants Committee (PC) at its 14th meeting in March 2013. The M&E Framework is designed to keep track of the Facility’s performance in a way that helps ensure lessons can be learned and adaptive management is possible at the Facility level.
The FCPF Participants Committee adopted the General Conditions for Emission Reductions Payment Agreements that put in place the technical and legal underpinnings for future large-scale forest carbon transactions. The development of these first-of-their-kind general conditions reinforced the FCPF’s role in setting globally recognized standards for REDD+.
In its sixth year of operation, the FCPF made progress shaping a diverse portfolio of large scale emission reductions programs for the Carbon Fund. Seven new ER Program Idea Notes were selected (bringing the total to eight), filling the pipeline for the Carbon Fund by two-thirds within half a year. In the Readiness Fund, a record number of 13 R-PPs were assessed by the Participants Committee, allocating a total of just under $50 million of new readiness grant funding.
The FCPF became operational on June 25, 2008. The first several months focused on the full and effective engagement of forest-dependent communities in REDD+ readiness efforts.
On December 11, 2007, World Bank Group President Robert B. Zoellick launched the Forest Carbon Partnership Facility (FCPF) as a groundbreaking financing mechanism to combat tropical deforestation and climate change. Through its separate but complimentary Readiness and Carbon Funds, the FCPF was developed to support and compensate developing countries for carbon dioxide reductions realized by maintaining their forests.