World Bank

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Logo: World Bank
Name: World Bank
Address: 1818 H Street, NW
Zip: 20433
Number of Employees: 10,000+
Year Founded: 1944
Status: Unknown
Phone Number: (202) 473-1000
Website: www.worldbank.org/
Coordinates: 38.8994°, -77.0425° Show Map
Last Modified: 24 April 2017
References: World Bank[1] About World Bank[2] World Bank Toolkit[3]




Background

"The World Bank is a research institution headquartered in Washington, D.C.. The World Bank provides financial and technical support to developing nations with the goal of fighting povert.[2]

The World Bank created the World Bank Renewable Energy Toolkit. The toolkit provides a broad set of tools to assist Bank staff and country counterparts to improve the design and implementation of renewable energy projects. The renewable energy toolkit also incorporates best practices and lessons learned from RE projects supported by the World Bank and others. It addresses practical implementation needs at each stage in the project cycle."[3]

Programs

Forest Carbon Partnership Facility (FCPF)

"Despite decades of international financial assistance for forest protection, tropical forests continue to disappear at an alarming rate. Failing urgent action, the majority of remaining tropical forests of the world will vanish in this century. This dire situation calls for stronger global partnerships and the development of new sustainable financing mechanisms to support country-led forest sector reform programs. The Forest Carbon Partnership Facility (FCPF) assists developing countries in their efforts to reduce emissions from deforestation and forest degradation (REDD+) by providing value to standing forests. It was announced at CoP13 in Bali in December 2007 and became operational in June 2008.

The FCPF has the dual objectives of building capacity for REDD+ in developing countries in tropical and subtropical regions, and testing a program of performance-based incentive payments in some pilot countries, on a relatively small scale, in order to set the stage for a much larger system of positive incentives and financing flows in the future. Two separate mechanisms have been set up to support these objectives:

Readiness Mechanism: The FCPF’s initial activities relate to technical assistance and capacity building for REDD+ in IBRD and IDA member countries in the tropics across Africa, Eastern Asia and Pacific, Latin America and the Caribbean and South Asia. Specifically, the FCPF is assisting countries to arrive at a credible estimate of their national forest carbon stocks and sources of forest emissions, work out their national reference scenarios for emissions from deforestation and forest degradation based on past emission rates for future emissions estimates, calculate opportunity costs of possible REDD+ interventions, adopt and complement national strategies for stemming deforestation and forest degradation, and design national monitoring, reporting and verification systems for REDD+. These activities are referred to as ‘REDD+ Readiness’ and supported by the Readiness Fund of the FCPF.
Carbon Finance Mechanism: It is expected that around five countries that will have made significant progress towards REDD+ readiness will also participate in the Carbon Finance Mechanism and receive financing from the Carbon Fund, through which the Facility will implement and evaluate pilot incentive programs for REDD+ based on a system of compensated reductions. The selected countries, having:
  • demonstrated ownership on REDD+ and adequate monitoring capacity; and
  • established a credible reference scenario and options for reducing emissions; will benefit from performance-based payments for having verifiably reduced emissions from deforestation and/or forest degradation through their Emission Reductions Programs.

The structure of these payments will build on the options for REDD+ that are currently being discussed within the United Nations Framework Convention on Climate Change (UNFCCC) process, with payments made to help address the causes of deforestation and degradation. Within the Carbon Finance Mechanism, payments will only be made to countries that achieve measurable and verifiable emission reductions.

Together, these two mechanisms seek to learn lessons from first-of-a kind operations and develop a realistic and cost-effective large new instrument for tackling deforestation, to help safeguard the Earth's climate, reduce poverty, manage freshwater resources, and protect biodiversity. However, it is important to note that the Facility itself is not a panacea to "save the world's forests." Rather, the experiences generated from the FCPF’s methodological, pilot implementation and carbon finance experience will provide insights and knowledge for all entities interested in REDD+. The FCPF thus seeks to create an enabling environment and garner a body of knowledge and experiences that can facilitate development of a much larger global program of incentives for REDD+ over the medium term.

As of March 13, 2009, 37 countries from Asia, Latin and Central America, and Africa have been selected into the Readiness Mechanism based on Readiness Plan Idea Notes reviewed by the Participants Committee and independent reviews by a Technical Advisory Panel. The selected countries become REDD+ Country Participants and receive grant support to develop a Readiness Plan, which contains a detailed assessment of the drivers of deforestation and degradation, terms of reference for defining their emissions reference level based on past emission rates and future emissions estimates, establishing a monitoring, reporting and verification system for REDD+, and adopting or complementing their national REDD+ strategy. A consultation plan is also part of the Readiness Plan. So far about US$107 million has been contributed by 11 donor countries to the Readiness Fund, the target being to raise US$185 million to support the REDD+ Readiness efforts of the 37 countries selected into the FCPF. The target for the Carbon Fund is US$200 million, of which about US$51 has been pledged already."

Resources

World Bank Tools

World Bank Programs

Annual Reports

2010

Annual Report

Outcomes, Lessons Learned and Good Practices

Presentation Title Date
WorldBank.pdf World Bank, Energy Sector Management Assistance Program of the World Bank Low Carbon Development: Experience at the World Bank and ESMAP 2011-02-02

References

  1. ↑ World Bank
  2. ↑ 2.0 2.1 About World Bank
  3. ↑ 3.0 3.1 World Bank Toolkit
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