UPSC Prelims 2015 Question:

BioCarbon Fund Initiative for Sustainable Forest Landscapes’ is managed by the

Explanation:

• The BioCarbon Fund Initiative for Sustainable Forest Landscapes (ISFL) is a multilateral facility, supported by donor governments and managed by the World Bank.
  
  
• It promotes and rewards reduced Green House Gas (GHG) emissions from the land sector, including efforts to Reduce Deforestation and forest Degradation in Developing (REDD+) countries, sustainable agriculture, as well as smarter land-use planning, policies and practices. The ISFL currently supports programs in Colombia, Ethiopia, Indonesia, Mexico, and Zambia.
  
  
• The ISFL has two key funding instruments, the BioCFplus and BioCF Tranche 3 (T3), which have been designed specifically to operationalize the vision of the ISFL. BioCFplus supports grant-based technical assistance activities and capacity-building efforts in each jurisdiction. BioCF Tranche 3 provides results-based payments for verified emission reductions through an Emission Reductions Purchase Agreement (ERPA).
  
  

Therefore, option (4) is the correct answer.

Subject: Environment | Environmental Organisations and Conventions