B.40/16: Financing of results-based payments for REDD+ mainstreaming proposal

The Board, having considered document GCF/B.40/11 titled “Policy for results-based payments for REDD+”:

  1. Decides to approve the Policy for results-based payments for REDD+ (the “Policy”), as contained in annex VIII;
  2. Also decides that for each GCF programming period, GCF will accept for consideration REDD+ results achieved within a five-year period that commences six years prior to the GCF programming period during which the relevant funding proposal is submitted;
  3. Further decides that, for the GCF programming period of 2024–2027 (the second replenishment period of GCF), a carbon price for REDD+ results paid under the Policy shall be set at USD 8.00 per tonne of carbon dioxide equivalent of reduced emissions or enhanced removals;
  4. Encourages countries that wish to submit REDD+ results-based payment funding proposals to request financing under the GCF Readiness and Preparatory Support Programme to support eligibility under the Policy; and
  5. Requests the Secretariat to prepare relevant guidance and templates, building on the guidance and templates of the 2017–2022 REDD+ Results-Based Payments Pilot Programme, to operationalize the Policy.