The GCF Results-based Payments pilot-project
At its 18th meeting in October 2017, the GCF Board launched a pilot program for REDD-plus results-based payments that is fully aligned with the UNFCCC reporting process for REDD+ (Decision B.18/06). The initiative has the objective of allocating, through a five-year pilot program, up to USD 500 million to developing countries that demonstrates REDD+ results achieved between 12/31/2013 and 12/31/2018.
To access the resources, GCF’s Accredited Entities were invited to submit concept notes and funding proposals in consultation with National Designed Authority and REDD+ focal point considering the following criteria :
1. Disposing of information related to UNFCCC requirements, including the elements reflected in decision 1/CP.16 paragraph 71 publicly available:
- The National REDD+ Strategy or Action Plan;
- Forest Reference Emission Level (FREL) applied to the results period for which payments are requested submitted to the UNFCCC and undergone the Convention’s Technical Assessment;
- National Forest Monitoring System (i.e. description provided in the BUR Annex);
- Safeguards information system to inform how the safeguards are addressed and respected, and a summary of information on how all the Cancun REDD+ safeguards were addressed and respected during the period for which RBP is being requested.
2. The REDD+ results, for which payments are requested have been included in the Technical Annex of the country’s BUR submitted to the UNFCCC; in addition, the technical analysis should be completed and the report made available on the UNFCCC website;
3. The scale of the RBP proposal is national or, on an interim basis, subnational;
4. Written consent for participation in the request for proposal must be provided by the REDD+ national entity/focal point to the UNFCCC;
5. A no objection letter (NOL) must be provided by National Designate Authority;
6. Maximum of 30% ($ 150 million) per country in all its proposals;
7. Compliance with GCF resource use policies;
8. That countries receiving REDD+ RBP must reinvest the proceeds in activities in line with their Nationally Determined Contribution (NDC) as stablished under the UNFCCC Paris Agreement, their REDD+ Strategies or low-carbon development plans.
Interested countries fulfilling those criteria were invited, then, to submit a concept note and, if selected, to subsequently submit a results-based payment (RBP) Funding Proposal to the GCF.