Thursday, August 11, 2011
FCPF Launches Carbon Fund
Last month, the Forest Carbon Partnership Facility (FCPF), part of the World Bank Group, officially launched its Carbon Fund to support REDD+ projects. In the REDD+ universe, the FCPF is envisioned as a primary vehicle for delivering funds to developing countries for forest conservation activities (including reforestation and afforestation). The Facility has been supporting national preparations for REDD+ participation through its Readiness Fund, which has financial commitments totaling $232 million, and now the FCPF will be able to distribute payments for REDD+ program implementation through the $215 million Carbon Fund. However, these figures represent money pledged and committed, rather than delivered, to the FCPF. Furthermore, REDD+ still lacks the core institutional machinery to enable payments in return for emissions reductions. As is often the case with REDD+, there is less here than meets the eye.