Markets working to support sustainable development

Forestry

Strategic Climate Fund (SCF)

The Strategic Climate Fund (SCF) is one of two Climate Investment Funds administered by Multilateral Development Banks (MDBs) and is designed to fund and pilot ‘new approaches with potential for scaled-up, transformational action aimed at a specific climate change challenge or sectoral response’.

The MDBs involved are: African Development Bank; Asian Development Bank; European Bank for Reconstruction and Development; Inter-American Development Bank; World Bank Group. In total the SCF commands a budget of US$ 1.9 billion and invests this through 3 targeted programmes:

Global Environment Facility (GEF)

The Global Environmental Facility (GEF) is an independent financial organisation that invests in projects related to biodiversity, climate change, international waters, land degradation, the ozone layer, and persistent organic pollutants. 

CITES

The Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) is a voluntary international agreement signed by 175 national governments. It provides a framework for subjecting the international trade of certain specimens to monitoring and control. It is legally binding and signatories must ensure that adequate national measures are undertaken to comply to it.

Species covered by the convention can be categorised into three main types (detailed in Annexes).

The Verified Carbon Standard (VCS)

The Verified Carbon Standard (VCS) (Version 3, 2011) is a Greenhouse Gas Programme, describing itself as a ‘comprehensive quality assurance system used to account for greenhouse gas emission reductions and credits’. It applies to offset projects in the voluntary carbon trading sector and was established by the Verified Carbon Standard Association (VCSA).

Plan Vivo

Plan Vivo  is a framework that helps communities use their natural resources in a sustainable way, focusing on small-scale forest management and afforestation projects that produce carbon credits as well as benefits to lovelihoods and ecosystems. 

The scheme is implemented through projects which are all community-led and produce Plan Vivo Certificates - one certificate being equal to the reduction or avoidance of 1 tonne of CO2  and which are registered and traded on the Markit Environmental Registry. 

SOCIALCARBON

SOCIALCARBON (Version 5, 2013) is a complementary standard that certifies carbon reduction projects for their contributions to sustainable development. It is applied to lots of different projects that have already achieved certification for their carbon reduction/avoidance activities - from small ones such as income generation intiatives for local communities, to large one including hydroelectric plants. 

The aims of the standard are to: 

American Carbon Registry Standards

The American Carbon Registry (ACR) has developed a number of standards to validate and verify carbon emissions reduction projects in diverse sectors including landfill gas, fuel switching, methane capture, forest carbon, truck idling, anaerobic digestion, carbon capture and storage, and rural solar power.

The American Carbon Registry publishes standards, methodologies, protocols and tools for greenhouse gas accounting. The 3 standards published to date are:

Business and Biodiversity Offsets Program (BBOP)

The Business and Biodiversity Offsets Program (BBOP) is an international collaboration between over 70 companies, financial institutions, government agencies and civil society organisations. It aims to help companies to conserve biodiversity in an ecologically effective and economically efficient manner as they pursue their business goals.

Climate Action Reserve Protocols

The Climate Action Reserve is a programme that seeks to ensure the environmental integrity of GHG emissions reduction projects as well as create and support financial and environmental value in the U.S. carbon market. It does this by establishing standards for quantifying and verifying GHG emissions reduction projects, overseeing independent third party verification bodies, issuing carbon credits generated from such projects and tracking the credits over time on a transparent, publicly-accessible system. 

Region: 

The UN Clean Development Mechanism

The Clean Development Mechanism (CDM) is one of the three market based instruments included in the Kyoto Protocol (1997). It is designed to help countries meet emissions reductions, encourage private sector involvement and contribute to sustainable development.

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