International Experience with REDD+ and National Forest Funds (English - with annexes)
Through building upon lessons learned from eight existing funds (mix of national and regional REDD+), the report is able to share best practices to help with the design and regulation for internationally financed national-level funding operating in developing countries. The United National Framework Convention on Climate Change (UNFCCC) Adaptation Fund serves as an example of requirements that may be placed on national funds.
Focus on REDD+ was scaled-up when the UNFCCC 16th session of the conference of parties (COP16) agreed to implement REDD+ through a phased approach that moves from readiness activities to results-based demonstration activities, to full measured, reported, and verified (MRV) results-based actions. Annex 1, which is 2/3 of the full report’s content, describes each of the eight funds in detail.
Excerpt from the report:
Evaluation of overall fund performance key points:
- It is common for the governing board to undertake annual or semi-annual reviews of overall fund performance and adjust its policies and strategies accordingly.
- It is standard practice to engage external third parties to perform annual financial audits according to international standards, while some funds also provide for audits of emission reductions or other factors.
- It is considered best practice to make review documents publicly available
- Some donors may request extraordinary reviews of the Fund, usually at the donor’s expense.