Under the agreement with the FCPF, once a country has fulfilled all its contract ERs and the FCPF has either exhausted its call option or declined to exercise it, the ERs generated in excess to the ERPA (‘Excess ERs’) are available to the country. These excess ERs are fully owned by the country, and it is the country’s prerogative to determine what to do with these credits. Available options include usage against the REDD+ country’s Nationally Determined Contributions (NDCs) under the Paris Agreement, or the sale of ERs to third party buyers.  

While the credits are issued through the World Bank’s FCPF Standard, the World Bank is not directly involved in any sale and/or purchase of such excess ERs. At a country’s request, the FCPF can support them to understand, navigate, and facilitate the different avenues available for commercialization, including the use of auction providers. The World Bank does not provide legal counsel.