ABSTRACT
The World Bank BioCarbon Fund and Vi Agroforestry signed the first Emission Reduction Purchase Agreement (ERPA) in 2010 for an African agricultural and soil carbon finance project. This event was a benchmark in the development of terrestrial carbon finance in the world. The project, Kenya Agricultural Carbon Project (KACP), will be an important example of a practice-based agricultural carbon credit project. It will offer a dual opportunity for climate change mitigation and adaptation, making it possible for smallholder farmers in Kenya to benefit from carbon finance. The project is groundbreaking both in its methodology and mode of implementation.
