通过自然气候解决方案减少排放：生物碳基金在签订减排购买协议（erpa）方面的经验

The Experience of the BioCarbon Fund inContracting Emissions Reductions PurchaseAgreements (ERPAs)Public Disclosure Authorized ©2025 International Bank for Reconstruction and Development / The World Bank1818 H Street NWWashington DC 20433Telephone: 202-473-1000Internet: www.worldbank.org This work is a product of the staff of The World Bank with external contributions. The findings, interpretations,and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of ExecutiveDirectors, or the governments they represent. The World Bank does not guarantee the accuracy, completeness, or currency of the data included in this workand does not assume responsibility for any errors, omissions, or discrepancies in the information, or liability withrespect to the use of or failure to use the information, methods, processes, or conclusions set forth. The boundaries,colors, denominations, links/footnotes and other information shown in this work do not imply any judgment onthe part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of suchboundaries. The citation of works authored by others does not mean the World Bank endorses the views expressedby those authors or the content of their works. Nothing herein shall constitute or be construed or considered to be a limitation upon or waiver of the privilegesand immunities of The World Bank, all of which are specifically reserved. Rights and Permissions The material in this work is subject to copyright. Because The World Bank encourages dissemination of itsknowledge, this work may be reproduced, in whole or in part, for noncommercial purposes as long as full attributionto this work is given. Any queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications,The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; e-mail: pubrights@worldbank.org. Cover photo: © Dariya S / UnsplashCover design and layout: Kushtrim Balaj Acknowledgements This report was financed by the BioCarbon Fund Initiative for Sustainable Forest Landscapes (ISFL) multi-donortrust fund. ISFL collaborates with countries around the world to reduce emissions from the land sector throughsmarter land-use planning, policies, and practices. ISFL contributors include, Germany, Norway, Switzerland, theUnited Kingdom, and the United States. This report was produced under the task leadership of Roy Parizat (Senior Economist, Climate Finance MobilizationUnit (SCCFM)). This report was developed, written, and produced by Loren Atkins (Counsel, Environmental andInternational Law Practice Group (LEGEN)) and Maya Tenzin Woser (Climate Finance Analyst, SCCFM) with inputfrom Loic Braune (Senior Natural Resouces Management Specialist, SCCFM), Jillian DePersio (former ClimateChange Analyst, SCCFM), Joseph Bryan Dickman (Senior Climate Change Specialist, SCCFM), and Catalina BecerraLeal (Climate Change Specialist, SCCFM). The team is grateful for the invaluable feedback and comments from peer reviewers: Andres B. Espejo, FranciscoObreque, Klaus Oppermann, Markus Pohlmann, Olivier Mahul, and Pierre Guigon. The team would also like to thankthe following team members who provided feedback on the report: Bowen Patrick Uhlenkamp, Marcela PortocarreroAya, Marco Van der Linden, Naikoa Aguilar Amuchastegui, Shaanti Kapila, Shreya Rangarajan, and Silvia Mauri. Finally, the team would like to thank Kym Smithies, Jane Sunderland, and Kushtrim Balaj for communications,editorial, and publishing support. CONTENTS INTRODUCTION6 5.ENVIRONMENTAL AND SOCIALCONSIDERATIONS27 5.1Who Will Receive Payments and Benefitsfrom the Sale of Carbon Credits?27 1.1What Is an ERPA?8 5.2What Measures Are in Place to Ensure ThatER Programs Minimize Environmental andSocial Risks and Benefit Communities TakingPart?29 1.2Carbon Credits10 2.DESIGNING AN ERPA13 6.COMMERCIAL CONSIDERATIONS31 3.TECHNICAL CONSIDERATIONS16 6.1How Will Carbon Credits Be Issued?316.2What Can Transacted Carbon Credits BeUsed For?326.3How Much Will the Seller Get Paid for theCarbon Credits?326.4What Happens if a Third Party Makes anOffer to Purchase Carbon Credits?336.5What Other Commercial Terms Can BeOutlined in an ERPA?35 3.1Where Are the Emissions Reductions ComingFrom?16 APPENDIXES37 4.LEGAL CONSIDERATIONS21 How BioCarbon Fund ISFL Programs Generate ERCredits37 4.1Prior to Signing the ERPA, Does the SellerHave the Right to Transfer Legal Title of theEmissions Reductions?21 GLOSSARY41 PHOTOGRAPHY44 Boxes Figures ABBREVIATIONS INTRODUCTION As the international community seeks to addressclimate change, it is widely understood that thereis an enormous financing gap for climate mitigationand adaptation. Trillions of dollars are neededannually by 2030 to fund the climate transition,while roughly only US$300 billion is currently beingcommitted.In an increasingly complex landscapeof climate finance, resu