To formulate and establish the technological and institutional platform basis for a verified emission reductions (VERs) market mechanism and to facilitate efforts of voluntary mitigation of greenhouse gas (GHG) emissions in Colombia, by: (i) creating a market platform for nationally issued VERs accessible to national or international buyers; (ii) supporting the issuing of VERs from forest carbon projects developed in Colombia; and (iii) fostering local demand of VERs through corporate carbon mitigation and offsetting strategies.

Project Details

GEF Project ID
4135
Country
Colombia
Implementing Agencies
Inter-American Development Bank
Approval FY
2011
Status
Completed
Region
Latin America and Caribbean
Executing Agencies
Fundacion Natura Colombia
GEF Period
GEF - 4
Project Type
Full-size Project
Focal Areas
Funding Source
GEF Trust Fund

Financials

USD
Co-financing Total
7,923,900
GEF Project Grant
2,700,000
GEF Agency Fees
270,000

Timeline

Received by GEF
29 Sep 2009
Concept Approved
31 Mar 2010
Project Approved for Implementation
31 Jul 2011
Project Closed
19 Jul 2017