The World Bank’s compliance body, the Inspection Panel (IP), has received a request for inspection from farmers who reforested land in India as part of a Bank carbon sequestration project, under the BioCarbon Fund (see Update 79). The farmers claim the Bank failed to “respect the timeframes for the validation and verification of the emission reductions, which generate the carbon revenue”. According to the request, by the time revenue was released, some farmers had harvested and sold their trees, as set out in the project design document, but the Bank was only willing to pay those whose plantations were still standing. The IP is expected to submit a report to the Bank board on the request’s eligibility by mid October.
7 February 2012
7 February 2012
Renewed calls for a substantial SDR allocation raise urgency of reforming the inequitable global reserve ‘non-system’.
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