2015 - 2015


Due Diligence on a REDD+ Project in Kenya for IFCs Finance for Forestry (F4F) Bond

Key Staff:

Scott Geller

LTS provided technical support to International Finance Corporation (IFC) Climate and Carbon Finance Unit (GCCCU) in undertaking an evaluation of an existing Voluntary Carbon Standard (VCS) and Climate, Community Biodiversity (CCB) Standard verified REDD+ project in Kenya. The evaluation determined the likely future viability of the project based on a systematic review of its components, including the management system, business, legal, and financial assumptions.

The evaluation included the basis of the project’s financial forecasting; the regulatory environment; existing project conditions; adherence to the Project Design Document (PDD); application of social and environmental management systems; and stakeholder engagement and benefit sharing mechanisms. It also included an assessment (as appropriate) of the effectiveness and impact of sub-projects on both project owners and stakeholders. Additionally, an evaluation of the project’s compliance against IFC Performance Standards (PS) was undertaken, with resulting actions developed to guide the closure of identified gaps.

LTS prioritised two main activities in the evaluation; a desk review and site visits. We undertook an extensive desk review to gain an understanding of the project and determine its compliance with VCS and CCB standards. We also used the desk review to develop a due diligence matrix and checklists of components that have been verified in the field such as application of project administrative, management and governance systems. We then conducted site visits to verify the checklists and evaluate the implementation of the management systems for the REDD+ project through interviews with responsible personnel, reviews of staff trainings, documentation at site level, audit schedules and systems checks.

Clients: World Bank



Geography: Kenya

Date: 2015


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