World Bank2017-06-132017-06-132011https://hdl.handle.net/10986/27108Carbon finance recognizes the contribution of projects to mitigating climate change. To be able to access carbon finance, projects can certify their emission reductions under a variety of standards, one of which is the Clean Development Mechanism (CDM) of the United Nations Framework Convention on Climate Change (UNFCCC). Project developers can sell their carbon credits either in the voluntary or the regulated market. Since 2002, projects from diverse sectors have been applying the CDM modalities and procedures to generate Certified Emission Reductions (CERs) that are traded in the carbon market Afforestation/Reforestation (A/R) is one out of the 15 sectors that can generate carbon credits under the CDM. The purpose of this document is to share the experience of the BioCarbon Fund (BioCF) of the World Bank in developing and implementing 21 A/R CDM projects in 16 countries. This experience shows that the benefits associated with A/R CDM projects support the livelihood of rural people and their local environment in a significant manner. However, depending on their capacity, projects may struggle with getting credit certification and the associated benefits. This report presents the opportunities and challenges A/R CDM projects face and presents recommendations to facilitate their design and implementation as well as to scale them up significantly.en-USCC BY 3.0 IGOAFFORESTATIONANNUAL EMISSIONANNUAL EMISSION REDUCTIONSANTHROPOGENIC EMISSIONATMOSPHEREBASELINE DETERMINATIONBIODIVERSITY CONSERVATIONBIOMASSBIOMASS BURNINGCALCULATIONCARBONCARBON CREDITCARBON CREDITSCARBON DIOXIDECARBON FINANCECARBON MARKETCARBON MARKETSCARBON PAYMENTSCARBON PROJECTCARBON PROJECTSCARBON REVENUESCARBON SEQUESTRATIONCARBON STOCKCARBON STOCK CHANGESCERTAIN EXTENTCERTIFICATION PROCESSCERTIFIED EMISSION REDUCTIONSCLEAN DEVELOPMENTCLEAN DEVELOPMENT MECHANISMCLEAN TECHNOLOGYCLIMATECLIMATE CHANGECLIMATE CHANGE MITIGATIONCOCO2COMMUNITY DEVELOPMENTCOMMUNITY PARTICIPATIONDEGRADED AREASDEGRADED LANDSDESERTIFICATIONDEVELOPED COUNTRIESDISCOUNT RATESDNAECOLOGYECONOMIC CONDITIONSECONOMICSECONOMIES OF SCALEECOSYSTEMSEMISSIONEMISSION REDUCTIONSEMISSION REDUCTIONS PURCHASE AGREEMENTEMISSIONSEMISSIONS FROM DEFORESTATIONENVIRONMENTALENVIRONMENTAL GOALSENVIRONMENTAL INTEGRITYENVIRONMENTSFINANCIAL RESOURCESFORESTFOREST AREAFOREST CARBONFOREST CARBON STOCKSFOREST DEGRADATIONFOREST INVENTORYFOREST LANDSFOREST MANAGEMENTFOREST PROJECTFOREST PROJECTSFOREST RESTORATIONFORESTRYFORESTRY ACTIVITIESFORESTRY PROJECTSFORESTRY SECTORFORESTSFOSSIL FUELSFRAMEWORK CONVENTION ON CLIMATE CHANGEFUELFUEL WOODGHGGREENHOUSEGREENHOUSE GASIMPACTS OF CLIMATE CHANGEINCOMEINTERVENTIONSIPCCLAND TENURELAND USELAND-USE ACTIVITIESLIVING CONDITIONSLOCAL ENVIRONMENTLOCAL PARTICIPATIONMITIGATING CLIMATE CHANGENATURAL CAPITALNEGATIVE IMPACTSORGANIC CARBONQUALITY EMISSION REDUCTIONSREDUCING EMISSIONSRURAL AREASRURAL COMMUNITIESRURAL DEVELOPMENTRURAL ENERGYSTREAMSSUSTAINABLE DEVELOPMENTSUSTAINABLE FORESTSUSTAINABLE FOREST MANAGEMENTSUSTAINABLE MANAGEMENTTIMBERTOTAL EMISSION REDUCTIONSTRANSACTION COSTSTREE VEGETATIONVALIDATION PROCESSVALIDATION REPORTVERIFICATION PROCESSVERIFICATION REPORTWETLANDSWILLINGNESS TO PAYReportWorld Bank10.1596/27108