UPSC Prelims 2015 Q56: Environment & Ecology – International Environmental Treaties & Summits
‘BioCarbon Fund Initiative for Sustainable Forest Landscapes’ is managed by the
- (a) Asian Development Bank
- (b) International Monetary Fund
- (c) United Nations Environment Programme
- (d) World Bank
Answer: (d) World Bank
Explanation
BioCarbon Fund Initiative for Sustainable Forest Landscapes (ISFL)
The ISFL is a multilateral fund managed by the World Bank, set up in 2013.
| Feature | Detail |
|---|---|
| Aim | Cut greenhouse gas emissions from the land sector: forests and farming |
| Method | Results-based payments for emission reductions; supports REDD+ and climate-smart agriculture |
| Funded by | Donor governments such as Germany, Norway, the United Kingdom and the United States |
| Works in | Countries such as Colombia, Ethiopia, Indonesia, Mexico and Zambia |
World Bank climate and forest funds:
| Fund | Focus |
|---|---|
| BioCarbon Fund ISFL | Sustainable forest landscapes |
| Forest Carbon Partnership Facility | REDD+ readiness and payments |
| Global Environment Facility | The World Bank is its trustee |
The Asian Development Bank, the IMF and UNEP do not manage it.
Answer: (d) World Bank.
Why each option is right or wrong
- (a) Incorrect. The Asian Development Bank does not manage the BioCarbon Fund.
- (b) Incorrect. The International Monetary Fund does not run forest or carbon funds.
- (c) Incorrect. The United Nations Environment Programme is not its manager.
- (d) CORRECT. The BioCarbon Fund Initiative is managed by the World Bank.
Key point
BioCarbon Fund ISFL (2013): World Bank-managed fund paying for emission reductions from forests and land use; supports REDD+.
Remember
BioCarbon Fund = World Bank.
Common mistakes
- Giving every environment fund to UNEP.
- Confusing the ISFL with the UN-REDD Programme of FAO, UNDP and UNEP.
- Thinking the IMF deals with carbon finance.
Exam tip
Carbon funds and forest carbon facilities sit with the World Bank.
Sources
- World Bank — BioCarbon Fund Initiative for Sustainable Forest Landscapes
- World Bank — Forest Carbon Partnership Facility