Metrics for Integrated Systems and Contexts: Côte d’Ivoire Climate Vulnerability Reduction Credit feasibility and pilot design
The Higher Ground Foundation is working with the Republic of Côte d’Ivoire to help the country meet its goals and reporting obligations under the UNFCCC framework. Working with the Ministry of Environment and Sustainable Development, with support from the Green Climate Fund, we are assessing the feasibility of deploying Vulnerability Reduction Credits (VRCs) through three main activities:
A pilot adaptation project that tests the potential to use VRCs;
Integrating VRCs into a fund for investment in adaptation projects, and;
Deploying VRCs in Côte d'Ivoire's National Adaptation Management System
We have completed the Phase I feasibility study and are currently preparing project design for Phase II demonstration.
Côte D'Ivoire is already experiencing significant climate change effects, which will continue to intensify on an accelerated timeframe. The IPCC’s Fifth Assessment Report projects that West Africa will see increases in average temperatures within a range of 3 to 6 degrees Celsius by the end of the century. Other projections indicate increases in extreme precipitation by as much as 60% and extended dry periods impinging on the growing season. These temperature and rainfall pattern changes will have a potentially serious effect on the country’s agriculture—in particular, the valuable cocoa crop—and on human health and well-being through reduced crop sales and nutrition, increased disease vectors, reduced water quality, and damage to infrastructure through enhanced flooding and winds. Other significant losses are being experienced as a result of coastal erosion and deforestation.
The Republic of Côte D'Ivoire is a signatory to the Paris Agreement and has partnered with the Green Climate Fund (GCF) in an effort to “strengthen the Government[’s] capacity to integrate climate change adaptation into national and sectoral planning processes” through its National Adaptation Plan (NAP) framework. However, there is a lack of clarity on roles and responsibilities on adaptation, a lack of technical capacity, insufficient data for risk-informed planning, and a lack of a monitoring, reporting, and verification (MRV) system and strategy for financial motivation as barriers to robust implementation of its national adaptation goals.
To help address these challenges, the country's environment ministry is investigating the applicability of a quantifiable metric of reduced vulnerability to climate change; specifically, the Vulnerability Reduction Credit (VRC), a quantified and fungible metric of climate adaptation developed by the Higher Ground Foundation. Using the VRC mechanism, verified project vulnerability reduction results generate credits representing an adaptation project’s avoided impact costs, adjusted for local income levels. VRCs generated by projects reflect quantified and monitored vulnerability reduction efforts and can be sold on to third parties to fund these efforts or used to evaluate and compare technologies and processes in terms of their effectiveness.
The objective of this project is to carry out an initial analysis and feasibility assessment that will help to guide the Ministre de l'Environnement et du Développement Durable, Côte D'Ivoire (MINEDD) and partners in the successful development of VRC projects and a registry that will enable the Republic of Côte d'Ivoire to more effectively identify, support, and implement adaptations to climate change in accordance with its NAP under the 2015 Paris Agreement and the framework that has been developed with the GCF.
This preliminary study will develop preliminary designs and recommendations for implementing three key projects contributory to meeting the above goals:
• Pilot Project: We will carry out a prefeasibility study for a pilot VRC climate adaptation project. The practices, and financial instruments needed by communities in RCI and elsewhere to adapt to specific vulnerabilities to climate change will be defined. Based on these requirements, we will work together with MINEDD to identify one or more projects in the Ivory Coast as feasible pilots to generate VRCs through vulnerability reduction.
• VRC Fund: We will define the scope of a certification instrument-based fund for leveraging investment in adaptation projects and the potential trading of adaptation credits . The fund is to be managed within the country of Côte D'Ivoire by and/or on behalf of the Government as part of its development and implementation of the country’s National Adaptation Plan and will d be designed as a springboard for deploying GCF and other resources to support results-based adaptation projects by entering into agreements to purchase VRCs.
• Management System: We will scope a National Adaptation Management System for more effectively identifying, supporting, and implementing climate adaptations in Ivory Coast. In addition to providing a registry for VRC issuance and tracking through which all VRCs produced by adaptation projects in RCI would be uniquely and transparently identified and tracked, the Management System will serve as a platform for managing, financing, and growing the VRC fund and provide linkage to external national and international finance and reporting systems.
Conference of Parties 27 Presentation and Consultation
To report on our findings and consult on next steps, we will be at the COP 27 from 9 to 15 November. We plan to meet with potential stakeholders and partners to obtain their input and guidance on what they would be interested in seeing brought into play in a future Adaptation Credit and National Management framework as well as in ongoing VRC generating vulnerability reduction project activities.
If you are interested in meeting during or before or after the COP or would simply like to know more, please do not hesitate to contact our delegation:
To download our COP26 slide deck, click here (COP27 slide deck coming soon)
To download our policy paper, click here
To download our briefing on the Vulnerability Reduction Credit, click here