The objective of the proposed Forest Carbon Partnership Facility (FCPF) Carbon Fund REDD+[1] Emission Reductions Program is to achieve roughly 26.8 million tCO2e of emission reductions (ERs) from the Amazonian regions of San Martin and Ucayali during 2020-2024. Peru expects to transfer 6.4 million tCO2e of measured, reported and verified ERs to the Carbon Fund for payment of US$32 million, to be distributed in accordance with an agreed benefit sharing plan (BSP). The ER Program has two components: (1) ER Verification – verification of and payment for measured and reported ERs generated by the Government’s ER Program; and (2) Benefit Sharing – distribution of the ER payments according to a Benefit Sharing Plan (BSP).

[1] REDD+ stands for "Reducing Emissions from Deforestation and forest Degradation”; the “+” signifies the role of conservation, sustainable management of forests and enhancement of forest carbon stocks.