Forest Carbon Partnership Facility 2022 Annual Report

The Forest Carbon Partnership Facility (FCPF) have released their 2022 Annual Report. This report highlights the Facility’s wins from 2021/22, program updates and details of their funds. Including the large-scale jurisdictional forest fund – the Climate Emissions Reduction Facility (CERF) which aims to be fully operational in 2023 and has a short-term capitalisation target of $1 billion.

FCPF’s main win for this period, which the report details, was the issuing of the world’s first independently verified jurisdictional reducing emissions from deforestation and forest degradation (REDD+) payment to Mozambique. This payment was made to Mozambique as part of the FCPF Carbon Fund. The report then provides full details of the FCPF’s Carbon Fund, a portfolio of 15 diverse emissions reductions programs that take a jurisdictional-level approach to achieving climate-smart land use and protecting forests.  

The report concludes by highlighting issues and challenges the FCPF have identified across countries emission reductions programs. Which include challenges associated to the Covid-19 pandemic, a convoluted financing landscape for countries to navigate, as well as the measurement, reporting and verification of emissions in order to initiate payments. The FCPF also call for greater collaboration between governments, NGOs, CSOs and the private sector in the report, which would unlock new opportunities within voluntary carbon markets.