Zambia recently signed a groundbreaking Emission Reductions Purchase Agreement (ERPA) with the ISFL to significantly reduce carbon emissions through sustainable landscape management.

The ERPA unlocks up to $30 million in results-based payments that will reward communities in Zambia’s Eastern Province for their efforts to reduce around three million metric tons of carbon dioxide equivalent emissions between 2024 and 2029.

By taking an integrated approach to mitigation across Zambia’s Eastern Province, this work aims to enhance communities’ resilience to shocks brought on by climate change.

Learn more about Zambia's ISFL program

In June, the results of the FCPF and ISFL’s recent independent evaluations – conducted in 2023 – were released with encouraging findings for both funds.

The FCPF's third evaluation concluded that the fund has played a crucial role in the REDD+ and results-based climate finance landscape both globally and at the country level. The ISFL evaluation highlights the initiative’s success in advancing carbon market readiness and fostering sustainable land management practices.

In a recent Development and a Changing Climate blog, Erwin De Nys, Practice Manager of the World Bank’s Climate Finance Mobilization Unit, distills from the evaluations three key areas of learning for sustaining and evolving the work supported by these two funds. 

FCPF's third evaluation:

✔️ Summary brief 

✔️ Full report

ISFL's evaluation:

✔️ Summary report

✔️ Full report

In June, the FCPF and ISFL collaborated with the UN-REDD Programme under the guidance of the Norwegian Government to host a global REDD+ Knowledge Day in Oslo, Norway.

The event brought together more than 140 participants from governments, Indigenous peoples organizations, civil society organizations, NGOs, academia, contributors, the World Bank, and the United Nations, representing more than 30 countries. 

On the margins of the Oslo Tropical Forest Forum and REDD+ Knowledge Day in June, the ISFL convened key stakeholders from across all five of its country programs for a special “Pause and Reflect” global workshop.

During this two-day event, participants representing national project implementation units, government ministries, and all five donor agencies shared lessons learned and feedback on critical elements of the ISFL program, including benefit-sharing arrangements, private sector engagement, emission reduction program development and validation, and Emission Reductions Purchase Agreement negotiations.

Moving forward, the valuable feedback from this workshop will inform improvements for the ISFL and similar sustainable forest landscape programs. A detailed workshop report will be published on the ISFL website in the coming weeks.

The FCPF Carbon Fund's 28th meeting (CF28), which took place June 18-20 in Oslo, Norway, advanced discussions and decisions on a range of work areas, including:

✔️ the FCPF Standard;

✔️ the FCPF's recent independent evaluation;

✔️ Enhancing countries' access to finance;

✔️ Flexibility on ERPA arrangements;

✔️ Revisions to buffer guidelines; and

✔️ Transaction registry and monetization support.

CF28 documents and presentations remain available on the FCPF website, which now includes the Chair's summary.

The next FCPF Carbon Fund meeting (CF29) is scheduled to take place in January 2025.

Reducing carbon emissions: Ivory Coast awarded $35 million (Afrik21)

REDD+ Knowledge Day: Evidence to Action Now (UN Environment Programme)

Côte d’Ivoire Receives $35 million Payment for Verified Reduction of Carbon Emissions (Africa.com)

Forests: How Can We Prosper in Harmony With Nature? (World Bank- The Development Podcast)

Preserving the Forest of the Congo Basin: A Game Changer for Africa and the World (World Bank blog- Africa Can End Poverty)

World Bank Land Conference 2024: Securing Land Tenure and Access for Climate Action (CIFOR)