The World Bank has mobilized a fund to demonstrate projects that sequester or conserve carbon in forest and agro-ecosystems. The Fund, a public/private initiative administered by the World Bank, aims to deliver cost-effective emission reductions, while promoting biodiversity conservation and poverty alleviation. The Fund is composed of two Tranches: Tranche One started operations in May 2004, has a total capital of $53.8 million and is closed to further participation; Tranche Two was operationalized in March 2007 and remains open to contributions.

NOTICE: Private or public sector entities interested in participating in the BioCarbon Fund Tranche Two should contact Ellysar Baroudy (ebaroudy@worldbank.org). The project portfolio of Tranche One is now identified and no new project proposals will be received. However, the present announcement serves as a call for projects for Tranche Two. Proponents interested in submitting a LULUCF project proposal to the BioCarbon Fund should submit a Project Idea Note via the website. The BioCarbon Fund's capacity to respond is conditioned upon successful capitalization of Tranche Two. Please also note that priority will be given to projects from the World Bank's project portfolio or that fit in the World Bank's country dialogue and have demonstration value and replication potential.

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This document, jointly created by Yves-Marie Gardette of ONF International and Bruno Locatelli of Cirad in May of 2007, is a good introduction to pave the road towards a better understanding of the forest carbon market.

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