Previous Year Question

The English name of this initiative is the ‘BioCarbon Fund Initiative for Sustainable Forest Landscapes’, abbreviated as ISFL.

It is a multilateral fund supported by donor governments and managed by the World Bank.

The ISFL was launched in 2013.

Its objective is to reduce greenhouse-gas emissions from the land-use sector and promote sustainable landscape management.

Instead of focusing only on isolated projects, it adopts a jurisdictional approach that considers an entire region or landscape.

Its programmes integrate REDD+, climate-smart agriculture and improved land-use planning.

REDD+ includes reducing emissions from deforestation and forest degradation along with conserving and enhancing forest carbon stocks.

The ISFL emphasizes the integrated accounting of emissions from forests, agriculture and other land-use activities.

It supports arrangements for results-based payments for verified emission reductions.

The initiative assists developing countries in building carbon-accounting systems, monitoring mechanisms, institutional capacity and benefit-sharing arrangements.

Participation of local communities and other stakeholders and the application of social and environmental safeguards are important under it.

It aims to support rural livelihoods and the sustainable use of natural resources along with emission reduction.

The Asian Development Bank, International Monetary Fund and UNEP do not manage this fund.