Value Proposition of Forest Conservation Certificate
TRANSPARENCY & DISCLOSURE IN RFF REGISTRY
- Applications received
- Projects approved (Registered Projects)
- The progress and results of the verification and certification
- All information on disbursement and project progress
3rd PARTY VERIFICATION & CERTIFICATION
- Verification is the assessment of the project by an Approved VB
- FCC for registration & FCC for progress/ completion
TAILORED FUNDING TO SUPPORT STATE GOVT.
- Administration & Project support staff
- Project Activities, Materials and equipment
- Monitoring and evaluation
- Publishing/Documentation
- Vehicles & Infrastructure
ACCOUNTABILITY & SEPARATE ACCOUNTING
- Annual Report – MFF shall maintain a separate financial statement of accounts
- Independent evaluations report – assess the effectiveness of the Fund’s projects
INCLUDE ECOSYSTEM SERVICES
- Recognizing co-benefits including biodiversity or conservation
TAX INCENTIVE
- Tax deductions of up to 10% of aggregate income under the 44 (11c), Income Tax Act
Forest Conservation Certificate
The Forest Conservation Certificate is a non-market financial instrument aimed at financing conservation and sustainable forest initiatives, integrating environmental stewardship and sustainable finance.
It is designed to meet domestic demand with the goal of ensuring transparency, accountability, robust safeguards, multiple output indicator and co-benefits generated from the maintenance or enhancement of forest ecosystems.
Participation to FCC is on VOLUNTARY basis and can be implemented at various scales such as site-specific, forest complex and others.
- FCC Features
- Eligible Activities Under FCC
- Who Can Participate In FCC?
- Benefit Of Forest Conservation Certificate
Not intended to generate carbon credit, though carbon benefits can be one of the outputs resulting from activities. These certificate
Include ecosystem services by recognizing co-benefits including biodiversity or conservation indices as part of the formula to reward investments and to incentivize conservation action such as the expansion of protected areas
Verification of forest conservation benefits is a core feature of the FCC. All participants shall report a set of mandatory indicators based on the eligible programs and activities to provide transparency.
Established transparency and accountability through enhance governance, project reviews, third party audits, and public registry
Result denominated in hectares of forest conserved, successful implementation of activities and achievement of selected indicators.
All activities supporting conservation and sustainable forest management including those covered under the scope of REDD Plus, as defined by UNFCCC decisions embodied under the Warsaw Framework for REDD Plus as well as the National REDD Plus Strategy under the FCC Protocol.
Protection or conservation of existing forest
Increase the forest area of Permanent Reserved Forest (PRF) or Permanent Forest Estate (PRE) or Protected Area (PA) or Totally Protected Area (TPA)
Restore the ecological integrity and function of degraded forests
Aggregate and reconnect fragmented forests
Community engagement and participation
Encourage sustainable forest management practices
1. Proponent
- Federal government/ Ministries and related agencies
- State Government and agencies
- Land Owners or entities with a clear legal title to the land or public land
- Non-government or private entities with written approval from the state government allowing them to apply for and hold a certificate under the FCC protocol for conservation activities on the specific area of public land
2. Donor
- Local or international entities* such as companies, businesses, societies or individual (s)
3. Donor & Proponent
- Donor and Proponent shall agree to be listed on the publicly available registry, which is a central repository for all information and documentation relating to REDD Plus Finance Framework
FCC acknowledges the contribution of activities towards generating benefits to the biodiversity, community and climate
Biodiversity Indicator
- Protect and monitor wildlife
- Protect keystone species
- Protect endangered or threatened species.
- Protect endemic species.
- Prevention of poaching & illegal wildlife trade
- Protect water catchment areas
- Combating bio-piracy under the Access to Biology Resources and Benefit Sharing Act 2017 (Act 795)
- Enhancement of livelihoods
- Other biodiversity benefits
Socio-Economic Indicators
- Preservation of traditional livelihoods and culture
- Protection of culturally and/or historically significant sites
- Increase income generation (non-timber forest products/non-deforestation)
- Diversification of employment opportunities and sustainable use of forests
- Long-term community access to forest resources
- Enhanced food security and enhanced access to clean water
- Promote green tourism
- Other socio-economic benefits
Sustainable Development Goals (SDGs) Indicators
SDG 13 – Climate Change
- Strengthen resilience and adaptive capacity to climate related hazards and natural disasters
- Integrate climate change measures into strategies and planning
- Improve education, awareness raising and human and institutional capacity on climate change mitigation, adaptation, impact reduction and early warning.
SDG 15 – Life on Land
- Conserve and restore terrestrial and freshwater ecosystems
- Reduce deforestation and restore degraded forests
- Protect biodiversity and natural habitats
- Eliminate poaching and trafficking of protected species
- Prevent invasive alien species on land and in water ecosystems.
- Increase financial resources to conserve and sustainably use ecosystem and biodiversity
- Finance and incentivize sustainable forest management