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 August and October 2022.

Costa Rica receives first emission reductions payment from FCPF

Costa Rica has become the first country in Latin America and the Caribbean to receive a payment from the FCPF Carbon Fund for verified emissions reductions from deforestation and forest degradation.

The FCPF recently paid Costa Rica $16.4 million for reducing 3.28 million tons of carbon emissions during 2018 and 2019. This payment is the first of three under the country’s Emission Reductions Payment Agreement (ERPA) with the FCPF. It is on track to unlock up to $60 million for the reduction of up to 12 million tons of CO2 emissions by the end of 2025.

Read more

REDD+ readiness progress in Bhutan, Colombia and Nigeria endorsed at FCPF governance meetings

From October 18-20, the FCPF welcomed to Washington, D.C. Participant Committee and Assembly members for its first in-person governance meetings since 2019.

At the FCPF’s 31st Participants Committee meeting, members endorsed Readiness Packages for Bhutan, Colombia and Nigeria, and discussed the FCPF’s third program-level evaluation to be conducted in 2023, as well as the closing of the Readiness Fund in December 2022. 

At the 15th Participants Assembly meeting, new REDD Country Observers were elected, and members heard from a wide range of observers and delivery partners. Members also discussed REDD+ financing, underscoring the valuable lessons learned from the FCPF that the World Bank can take forward with its new umbrella trust fund Scaling Climate Action by Lowering Emissions (SCALE- formerly CERF).

SCALE was also presented to participants at the 25th FCPF Carbon Fund meeting, held in Brussels, Belgium on September 14-15. At that meeting, a proposal was presented for creating a stand-alone FCPF standard for certifying emission reductions credits.

Download meeting agendas and presentations

New report showcases results from FCPF and ISFL private sector work in Colombia

With support from the FCPF and ISFL, the International Center for Tropical Agriculture in Colombia (CIAT) recently released a report highlighting how Colombian cattle ranching firm Hacienda San José was able to significantly reduce its greenhouse gas emissions between 2017 and 2022.

The ISFL and the World Bank's International Finance Corporation have been working with Hacienda San José since 2019 to scale up its sustainable cattle farming operations.

An article based on CIAT’s report was recently published in Frontiers in Climate Magazine.

Read more

World Bank’s NextGenMRV system to be showcased at COP27

The World Bank’s Next Generation Measurement, Reporting, and Verification system (NextGenMRV) is a cutting-edge digitized and streamlined MRV system being designed by the FCPF and ISFL to help track emissions reductions and enhanced removals from forests faster and cheaper than past approaches.

In September, NextGenMRV was presented at the international ForestSAT conference in Berlin, Germany, as well as the SatSummit meeting in Washington DC. In November, NextGenMRV is expected to be included in the World Bank Group pavilion event at COP27 in Sharm El Sheikh, Egypt.

Read more

The FCPF-ISFL 2022 global private sector workshop final report now available

The 2022 global workshop, Accelerating Climate Action: Unlocking Private Sector Finance for Sustainable Landscape Management, made the business case for private sector investments in sustainable landscapes and demonstrated how collaboration can enhance impact for the climate, nature, and communities.

The three-day, online workshop brought together over 500 leaders from 70 countries representing private sector organizations, REDD+ governments, contributing countries, non-governmental organizations, international development organizations, academia, and research institutes.

The workshop was the third in a series co-organized by the World Bank, the International Emissions Trading Association, and CDP, and facilitated by Meridian Institute.

Download the final report

New interactive virtual tour highlights World Bank's forest-smart efforts in the Congo Basin

Take a virtual journey to the "lungs of Africa” to explore the Congo Basin, and meet local champions and communities helping their country adapt to and mitigate climate change.

Through this virtual platform, learn more about FCPF activities and other World Bank initiatives working to facilitate forest-smart development in the Congo Basin.

Read more

Experience the virtual tour

ISFL 2022 annual report highlights progress toward large-scale emission reductions programs

The recently released 2022 ISFL annual report summarizes significant progress toward large-scale emission reductions in Colombia, Ethiopia, Indonesia, Mexico, and Zambia.

All five programs are nearing completion of their Emission Reductions Program Documents -- a crucial step toward the issuance of the Emission Reductions Purchase Agreements that will unlock millions of dollars in financial resources for communities and sustainable land use.

ISFL 2022 annual report

FCPF 2022 annual report spotlights groundbreaking emission reduction payments

The recently released FCPF 2022 annual report highlights another milestone year, during which the FCPF Carbon Fund issued to Mozambique the world’s first payment for independently verified jurisdictional REDD+ emission reductions.

With the signing of the Emission Reductions Payment Agreement (ERPA) with Guatemala in September 2021, all FCPF Carbon Fund countries are now on track to also receive payments for certified emission reductions.

FCPF 2022 annual report

Climate Explainer: What you need to know about results-based climate finance

The World Bank and other development finance institutions have increasingly used results-based climate finance in developing countries to incentivize climate action and help countries achieve their Nationally Determined Contributions to the Paris Agreement.

In a new World Bank Climate Explainer, Erwin De Nys, Manager at the World Bank’s Climate Funds Management Unit, explains how results-based climate finance can catalyze transformative climate action.

Read more

World Bank study recommends strengthening customary land tenure in Lao PDR

A new FCPF-financed study explores options for protecting customary land tenure in Lao People’s Democratic Republic (Lao PDR). Entitled “An Assessment of Customary Tenure Systems in the Lao PDR”, the study assesses the current state of customary land tenure systems in Lao PDR, paying particular attention to potential gaps in these efforts.

The report provides a comprehensive set of recommendations for Lao PDR’s government agencies, as well as civil society organizations, development partners, and academics involved in land governance and customary tenure.

Read more

Download the report

FCPF website offers new content on private sector engagement and sustainable value chains

The FCPF has expanded its website to include dedicated sections on its approach to private sector engagement, as well as special sections for its work on sustainable value chains.

The improved private sector engagement section now includes guidance and publications on a broader range of sustainability topics, including value chains and unlocking climate finance, and the private sector's role in scaling up climate-smart and sustainable land use.

The new section pulls together a variety of resources and case studies on cocoa, vanilla, cashew, livestock and forest-smart mining for private sector actors seeking to access climate finance, scale up sustainable production, and implement climate-smart practices that mitigate climate change.

World Bank releases first annual report for its EnABLE fund

The World Bank recently released the inaugural annual report for its multi-donor trust fund Enhancing Access to Benefits while Lowering Emissions (EnABLE). The report shares progress made during fiscal year 2022, including activities in 12 countries under the knowledge and capacity building phase of EnABLE. 

EnABLE aims to enhance the inclusion of marginalized communities and disadvantaged groups in emission reductions programs with the FCPF, ISFL, as well as the World Bank's Carbon Initiative for Development, to maximize their carbon and non-carbon benefits.

Download EnABLE's 2022 annual report in:




Learn more about EnABLE 

Forest and climate funds in the news

Leaders will build on Glasgow legacy to establish Forests & Climate Leaders’ Partnership at COP27 (UN Climate Change Conference UK 2021)

Soil carbon stocks and nitrous oxide emissions of pasture systems in Orinoquía region of Colombia: Potential for developing land-based greenhouse gas removal projects (Frontiers in Climate)

People and the planet together: Why Indigenous Peoples and local communities are at the heart of climate action (World Bank blog)

Forests for Climate: Scaling up Forest Conservation to Reach Net Zero (World Economic Forum)

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Newsletter photo: Andrea Quesada-Aguilar (Costa Rica); Hacienda San Jose (Colombia); Stanislas Fradelizi/World Bank (Lao PDR); #ShowYourStripes graphic by Professor Ed Hawkins University of Reading (Climate Explainer); all other photos courtesy of World Bank or partners and used with permission or purchased stock.