Q. With reference to ‘Forest Carbon Partnership Facility’, which of the following statements is/are correct?

  1. It is a global partnership of governments, businesses, civil society and indigenous peoples.
  2. It provides financial aid to universities, individual scientists and institutions involved in scientific forestry research to develop eco-friendly and climate adaptation technologies for sustainable forest management.
  3. It assists the countries in their ‘REDD+ (Reducing Emissions from Deforestation and Forest Degradation+)’ efforts by providing them with financial and technical assistance.

Select the correct answer using the code” given below.

  • 1 only
  • 2 and 3 only
  • 1 and 3 only
  • 1, 2 and 3

Answer: (c) 1 and 3 only

Forest Carbon Partnership Facility
  • The Forest Carbon Partnership Facility (FCPF) is a global partnership of governments, businesses, civil society, and indigenous people focused on reducing emissions from deforestation and forest degradation, conserving forest carbon stocks, promoting sustainable forest management, and enhancing forest carbon stocks in developing countries, also known as REDD+.
  • The FCPF was created in 2007 by the World Bank and The Nature Conservancy as an initiative to assist countries in engaging with an emerging concept known as REDD+.
    • It came into force in June 2008. 
  • It complements REDD+ by creating awareness of its readiness and future systems. 
  • Objectives of the forest carbon partnership facilities are:
    • To assist countries in their REDD+ efforts by providing them with essential financial and technical assistance resulting in capacity building.
      • Mozambique is the first country to receive payments from a World Bank trust fund to reduce emissions from deforestation and forest degradation, often known as REDD+.
      • Since 2019, Mozambique has received $6.4 million from the Forest Carbon Partnership Facility (FCPF) for decreasing 1.28 million tonnes of carbon emissions.
    • To pilot a performance-based payment system ensuring equitable benefit sharing. 
    • Ways to sustain or enhance the livelihood of local communities and to conserve biodiversity. 
    • To disseminate knowledge gained in the development of the facility and the implementation of readiness preparation proposals.
FCPF Readiness Fund
  • The FCPF Readiness Fund assists nations in laying the groundwork for REDD+ implementation.
  • Designing national REDD+ policies, generating reference emission levels, constructing measuring, reporting, and verification systems, and establishing national REDD+ management arrangements, including appropriate environmental and social protections, are all part of this.
  • Current financing is worth $400 million.
  • Its main activities include:
    • Creating national REDD+ reference scenarios
    • Adopting a national REDD+ strategy to reduce emissions, conserve biodiversity, and improve the livelihoods of Indigenous Peoples and other forest dwellers.
    • Creating and implementing precise measurement, monitoring, and verification systems to allow for reporting on emissions from deforestation and forest degradation.
FCPF Carbon Fund
  • The FCPF Carbon Fund is experimenting with results-based payments to countries that have moved through REDD+ preparedness and implementation and achieved verified emission reductions in their forest and broader land-use sectors.
  • Its current funding stands at $900 million.
  • Its main activities include:
    • Economic Policies and Regulations (taxation, subsidies, rural credit, certification, law enforcement)
    • Forest Policies and Regulations (taxation, subsidies, certification, concession regimes, securing land tenure and rights, forest law, governance, and enforcement, zoning, protected areas, and payments for environmental services (PES))
    • Forest Administration (forest fires, reduced impact logging, reforestation)
    • Development of Rural Areas (community development, rural electrification, community forestry).