Last week in Paris, the Forest Carbon Partnership Facility’s partners and stakeholders agreed on groundbreaking rules for investments in tropical forest protection in developing nations – a framework that will also help reduce greenhouse gas emissions in our rapidly warming world.
Capping an intense five days of negotiations, this major milestone unblocks $390 million in funding held in escrow in the facility’s Carbon Fund. The agreement (formally known as a Methodological Framework) spells out how tropical countries should design and implement large-scale protection programs in the lowland and mountain forests of the tropics.
In return, the countries get results-based payments from donor countries that support climate policy and social development goals.
It’s the first time an international organization has put on paper the operational rules for purchasing so-called REDD+ credits to reduce greenhouse gas emissions. (REDD is short for Reducing Emissions from Deforestation and Forest Degradation.)
Reaching consensus on the operational roadmap for REDD+ required input from a diverse set of sometimes-contradictory viewpoints.
Seated at the table to negotiate through the many issues in Paris were donor countries, private corporations, officials from tropical countries willing to experiment with REDD+, civil society organizations and representatives from indigenous groups who were championing the rights of traditional dwellers in tropical forests.