The Role of Sustainable Land Management for Climate ... - CAADP
The Role of Sustainable Land Management for Climate ... - CAADP
The Role of Sustainable Land Management for Climate ... - CAADP
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
!<br />
agricultural soil carbon sequestration include projects promoting conservation tillage and grass<br />
planting. Standard contracts have been developed <strong>for</strong> these projects, and <strong>for</strong> conservation tillage,<br />
emissions reductions are credited at a rate between 0.2 and 0.6 tCO 2 per acre per year (0.5 to 1.5<br />
tCO 2 per hectare per year). REDD projects earn <strong>of</strong>fsets <strong>for</strong> additional net carbon sequestered<br />
compared to the previous year. Although such markets appear to <strong>of</strong>fer little to African nations<br />
and farmers because <strong>of</strong> their small size and limited trading <strong>of</strong> AFOLU projects in Africa, they<br />
may be very important in demonstrating the feasibility <strong>of</strong> such contracts to the negotiations in<br />
Copenhagen on the post-Kyoto climate treaty.<br />
4.1.3. Carbon mitigation funds<br />
Various carbon mitigation funds have been established by multilateral and bilateral donors and<br />
development banks, which can be particularly important to finance development <strong>of</strong> carbon<br />
mitigation projects in SSA. <strong>The</strong>re are at least 17 funds and facilities managed by multilateral<br />
development banks with a value <strong>of</strong> close to US$3 billion, <strong>of</strong> which a large part (about two-thirds)<br />
is already committed (Ambrosi 2009). <strong>The</strong> World Bank has established three carbon funds –<br />
including the BioCarbon Fund (BCF), the Community Development Carbon Fund (CDCF), and<br />
the Forest Carbon Partnership Facility (FCPF) – which are targeted to poorer countries and, in<br />
the case <strong>of</strong> the BCF, to rural areas <strong>of</strong> developing countries. <strong>The</strong> CDCF, which was established in<br />
2003 and currently totals about $129 million, focuses on financing projects related to AFOLU<br />
that also provide significant development benefits to communities in the project vicinity. <strong>The</strong><br />
BCF, which was established in 2004 and totals about $54 million, focuses mainly on financing<br />
af<strong>for</strong>estation and re<strong>for</strong>estation activities eligible under CDM projects and the broader set <strong>of</strong><br />
AFOLU activities eligible under JI projects; but it also has a smaller window to explore and<br />
finance options not eligible under the KP mechanisms but that may be creditable under other<br />
programs (such as restoration <strong>of</strong> degraded land, rehabilitation <strong>of</strong> dryland grazing lands, etc.).<br />
<strong>The</strong> FCPF was launched at the UNFCCC meeting in Bali in December 2007, but is not yet<br />
operational. It is intended to focus on financing REDD activities. In addition, the GEF is<br />
providing about $250 million per year in grant financing <strong>for</strong> mitigation activities during 2006-<br />
2010.<br />
Many other carbon mitigation funds have been established by particular governments<br />
(especially in Europe and Japan), development banks and private investors. Almost all <strong>of</strong> these<br />
!<br />
&(!