The Forest Carbon Partnership Facility (FCPF) is a global partnership focused on reducing emissions from deforestation and forest degradation, forest carbon stock conservation, sustainable management of forests, and enhancement of forest carbon sotcks (REDD+).
FCPF was originially developed as a concept by the World Bank and The Nature Conservancy (TNC). It was then launched at the negotiations of the UNFCCC in Bali in 2007 (COP13) by the World Bank, nine donor governments and TNC. FCPF has 36 REDD country participants. The FCPF has created a framework and processes to assist countries in their REDD+ readiness; helping countries prepare for future financial incentive systems for REDD+.
FCPF is made up of two separate, but complementary, funds that support countries in their REDD+ preparations. Firstly, the Readiness fund, which assists participant countries prepare for REDD+ by developing policies and systems, in particular national REDD+ strategies; developing reference emission levels (RELs); designing measurement, reporting and verification (MRV) systems; and establishing national management arrangements, including safeguards, for REDD+. Contributors to the Readiness Fund are known as Donor Participants.
Secondly, it consists of the Carbon Fund. This became operational in May 2011 and will provide payments for verified emissions reductions from REDD+ programmes. Contributors to the Carbon Fund are calles Carbon Fund Participants. Developing countries participating in the FCPF in both funds are known as REDD Country Participants. About five REDD Country Participants will be supported by the Carbon Fund, dependent on a progress assessment made by the FCPF Participants Committee.