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BioCF plus FAO, Rome – March 22, 2004 Benoît Bosquet, World Bank

BioCF plus FAO, Rome – March 22, 2004 Benoît Bosquet, World Bank. Harnessing the carbon market to sustain ecosystems and alleviate poverty. BioCF plus Purpose. Lesson of the PCF: the availability of carbon finance is not enough to generate good climate change projects

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BioCF plus FAO, Rome – March 22, 2004 Benoît Bosquet, World Bank

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  1. BioCFplusFAO, Rome – March 22, 2004 Benoît Bosquet, World Bank Harnessing the carbon market to sustain ecosystems and alleviate poverty

  2. BioCFplus Purpose • Lesson of the PCF: the availability of carbon finance is not enough to generate good climate change projects • Host countries lack the necessary capacity • Need for funds to support capacity building • “CF-assist” = umbrella capacity building for carbon finance in the World Bank: general capacity building needs • Also “plus” funds dedicated to PCF, CDCF and BioCF: to defray first-of-a-kind, project-specific costs and dissemination

  3. BioCFplus Activities • Project preparation • Baseline Studies, Monitoring Protocols • New project types, small-scale projects • Carbon delivery mechanisms • Contract and train intermediaries between buyer and seller • Stakeholder involvement • Priority-setting, social assessments • Applied research • Monitoring methodologies for LULUCF projects • Dissemination of lessons learned

  4. BioCFplus Business Process • Multidonor Technical Assistance Program with: • General activities agreed upon at the outset • Annual work programs and budget submitted to contributors • Annual status reports • Standard World Bank auditing of trust funds • And/or Individual Technical Assistance Programs with their own procedures • Multidonor formula preferred to cut transaction costs

  5. BioCFplus Financing • Interest income on upfront contributions to BioCarbon Fund • Governments of Canada and Italy • ~ $50,000 / yr • $50,000 = cost of one Baseline Study + draft Monitoring Plan • Specific contributions sought from bilateral donors or foundations • Financing gap: $285,000 (based on BioCarbon Fund capital @ $20 M)

  6. BioCFplus Development • Draft framework agreement between UNEP-DPDL and IUCN for 2-year program • Support to DNAs and other organizations (formulation, approval, and monitoring of sinks projects) • Technical assistance for projects (training on CDM rules; defray transaction costs for BioCarbon Fund projects) • Sinks project market survey and promotion • Knowledge management • World Bank may join agreement • Foundations Roundtable on April 1, 2004 to discuss CDCFplus and BioCFplus • Discussion with Japan Forest Agency

  7. BioCFplus and FAO • Join framework agreement between UNEP-DPDL and IUCN, focusing part of the effort on projects • Join BioCFplus Multidonor Technical Assistance Program • Privileged information about the deals • Useful insights into potential of carbon finance to support FAO and member country activities • Policy formulation (e.g. National Forest Programs) • Program promotion (e.g. Bioenergy Program)

  8. www.biocarbonfund.org www.carbonfinance.org

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