Third Program Evaluation for the Forest Carbon Partnership Facility
Final Evaluation Report, Vol.1 - June 5, 2024
Launched in 2008, the FCPF is the world’s largest multilateral REDD+ financing mechanism, providing readiness support and result-based payments.
REDD+ stands for “Reducing emissions from deforestation and forest degradation in developing countries”. The + stands for additional forest-related activities that protect the climate, namely sustainable management of forests and the conservation and enhancement of forest carbon stocks.
Key lessons from the evaluation:
Balance demands for high-integrity emission reduction credits with the complexity of Measuring, Reporting and Verification (MRV) and carbon accounting
Capacity development takes time for full internalization within government agencies
Readiness support builds a solid base to leverage additional financing
Maintain financial support as countries transition to results-based payments
Non-carbon benefits are critical for effective and sustainable emission reduction programs. Clear guidance is needed for their identification and monitoring.
Broad-based participation in global governance structures ensures transparency and effective representation.
Aligning private sector interests with REDD+ program objectives offers significant collaboration opportunities.