The 2023 FCPF annual report spotlights the groundbreaking emission reductions payments made over the past year to Costa Rica, Côte d’Ivoire, Ghana, Indonesia, and the Lao PDR.
Combined with Mozambique’s emission reductions payments to date, Carbon Fund results-based payments now total $53.2 million, with that number expected to increase to at least $300 million in the coming year.
In the lifetime of the Carbon Fund, contract emission reductions payments to the Carbon Fund’s 15 participant countries could reach $721 million for over 144 million ER credits. Carbon Fund countries have already reported more than 60 million contract emission reductions and more than 16.5 million excess emission reductions that could be commercialized in carbon markets, opening the door to new streams of finance.
"These achievements prove that the REDD+ concept works," writes FCPF Fund Manager, Andres Espejo.
He adds, "They show that countries are closer to accessing additional revenue streams from carbon finance. Carbon Fund achievements give hope that the REDD+ mechanism can be a solution to the increasing challenges the world is facing."