The Readiness Fund supports tropical and sub-tropical developing countries in preparing themselves to participate in a future, large-scale, system of positive incentives for REDD+. This includes: adopting national REDD+ strategies; developing reference emission levels (RELs); designing measurement, reporting, and verification (MRV) systems; and setting up REDD+ national management arrangements, including proper environmental and social safeguards.
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Participation in the Readiness Fund: An Eligible REDD Country submits a Readiness Preparation Proposal Idea Note to the Facility Management Team; Upon approval by the Participants Committee, the Eligible REDD Country enters into a REDD Country Participation Agreement with the Trustee of the Readiness Fund; and The Trustee of the Readiness Fund may enter into one or more Grant Agreements to fund a Readiness Preparation Proposal by a REDD Country Participant. Participation in the Carbon Fund: A few countries that have successfully participated in the Readiness Fund may be selected, on a voluntary basis, to participate in the Carbon Fund. Countries that have made considerable progress towards REDD+ readiness submit programme proposals that are assessed according to the following criteria: i) Potential for generating high quality sustainable emissions reductions and social and environmental benefits; ii) Scale of implementation; iii) Consistency with emerging compliance standards under the UNFCCC and other regimes; iv) Potential to generate learning value for the FCPF and other participants; v) Clear and transparent ‗benefit sharing‘ mechanisms with broad community support; and vi) Transparent stakeholder consultations. The first step for interested countries is to submit a Readiness Plan Idea Note to the FCPF. The next step is for the selected countries to prepare their Readiness Plan, which is a framework for a country to set a clear plan, budget and schedule to undertake REDD+ activities. The partnership’s governing body reviews and assesses Readiness Plans, and on that basis decides on the allocation of FCPF grants to countries. Readiness activities must involve a high degree of consultation with civil society and indigenous peoples organizations. Given the historical role of indigenous peoples and other forest dwellers as stewards of tropical forests, it is critical that governments set up participatory mechanisms to ensure that they be meaningfully consulted during the formulation and implementation of their country’s Readiness Plan and REDD+ Strategy and that they benefit from capacity building and future financial incentives.