The latest news from the Forest Carbon Partnership Facility

and the BioCarbon Fund Initiative for Sustainable Forest Landscapes

This newsletter highlights updates from the Forest Carbon Partnership Facility (FCPF), the BioCarbon Fund Initiative for Sustainable Forest Landscapes (ISFL), and related forest and climate fund work between February and April 2024.

Viet Nam receives largest single FCPF payment for reducing emissions through forest preservation 

Viet Nam has received its first results-based payment of $51.5 million from the FCPF for successfully reducing 10.3 million tons of carbon emissions through forest preservation and restoration.

Viet Nam is the first country in the East Asia Pacific region to receive a results-based payment from the FCPF Carbon Fund. This $51.5 million payment is the largest single payment to date made by the FCPF for verified, high integrity carbon credits.

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FCPF and ISFL at the 2024 Oslo Tropical Forest Forum

To coincide with the Oslo Tropical Forest Forum, the FCPF and ISFL will host several events in Norway’s capital in June, bringing together partners and stakeholders from across the globe.

The FCPF Carbon Fund will host its 28th meeting (CF28) 19-20 June in Oslo, and the FCPF and ISFL will co-host a REDD+ Knowledge Day on June 27th, in collaboration with the UN-REDD Programme and the Norwegian Government. This knowledge event will bring together more than 120 REDD+ stakeholders and practitioners to advance discussions on a variety of topics including benefit-sharing arrangements, next-generation MRV, private sector value chains and the future of REDD+ financing.  

The ISFL will also host a global stock-taking event with stakeholders involved in the delivery of ISFL’s five country programs. This meeting aims to draw out key lessons from program development and delivery to guide future jurisdictional, integrated land-use emission reductions programs.

More on FCPF CF28 meeting

More on the 2024 Oslo Tropical Forest Forum

From Vision to Action: Advancing the future of REDD+

The FCPF recently hosted a global panel discussion "From Vision to Action – Advancing the Future of REDD+" that explored the ambitions and implications of REDD+ for programming and climate financing in various countries.

This panel event provided an opportunity for donors and development partners to gain perspectives from stakeholders, including representatives from governments, the private sector, and Indigenous communities. The discussion also touched upon advancements in voluntary carbon markets, developments in Article 6 negotiations, and the outcomes of COP28.

Event recordings and presentations are available on the FCPF website.

2024 International Day of Forests

In connection with the International Day of Forests in March, the World Bank released a new video entitled, "Forests for People, Nature, and Climate", highlighting all the ways forests are vital to the planet.

REDD+ remains one of the best strategies the world has to mitigate climate change and achieve sustainable forest landscape management.

Learn more about REDD+ on the FCPF website.

Climate Action Game Changers: Carbon markets

The World Bank's immersive online resource on carbon markets underscores the exciting connection between high-integrity carbon credits and long-term climate action.

"Done right, carbon credits can incentivize climate action and be a win for poor people... and also be a win for the planet. They can bring much-needed income to poor communities blessed with natural resources, while financing decarbonization efforts."

Learn more

Forest and climate funds in the news

Revenue from carbon credits distributed to localities (Vietnam Plus)

Analysis: Forest communities fight for share of the shrinking carbon market (Reuters)

World Bank Pays Vietnam Over $51 Million in Carbon Credits (Carbon Credits)

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Newsletter photo credits: Neils van Altena/Unsplash (top banner forest photo); Norad (Oslo Tropical Forest Forum); Chris Morgan/World Bank (Climate Action Game Changer); all other photos courtesy of World Bank or partners and used with permission or purchased stock.