Fiji Carbon Fund ER Program

active

The development objective of the Carbon Fund Emission Reduction Program Project is to make payments to the Program Entity for measured, reported and verified Emissions Reductions (ERs) from reduced deforestation, forest degradation and enhancement of forest carbon stocks (REDD+) at the national level in Fiji and to ensure that paid amounts are distributed according to an agreed benefit sharing plan. This project has two components. 1) The first component, Measurement, reporting, and verification (MRV) and payment of the ERs generated by the project, aims that the payment from the Carbon Fund under the Emissions Reduction Payment Agreement (ERPA) will be based on verified ERs measured and reported by the program entity. 2) The second component, Distribution of ER payments as per the Benefit Sharing Plan, aims that the proceeds from verified ER payments will be shared according to an agreed BSP prepared by the government of Fiji (GoF), designed through a highly consultative process and based on the criteria in the Carbon Fund Methodological Framework and in a manner that is acceptable to the World Bank.