press releases | carbonfund.org
Friday, 28 March 2014 14:30

Why Forest Conservation is so Important

This is the first of a monthly blog series about our forest conservation projects in Brazil.  This month's blog gives an overview of tropical deforestation and an introduction to our projects.  In future months, topics shall include updates on the projects' biodiversity, highlights of community projects, stories from the field, and status of the projects' certifications.   

Tropical deforestation is a global problem because such deforestation is responsible for approximately 15-20% of human-caused greenhouse gas emissions, reduces habitat availability for a tremendous amount of biodiversity, and further threatens the livelihoods of forest-dependent communities.  With this in mind, only 2% of the world’s total surface area is home to rainforests yet rainforests are home to 50% of the world's plant and animals.  Shockingly, according to The Nature Conservancy, "every second, a slice of rainforest the size of a football field is mowed down. That's 86,400 football fields of rainforest per day, or over 31 million football fields of rainforest each year."

Because of the support of our generous donors, the Carbonfund.org Foundation created its wholly-owned subsidiary, CarbonCo, to design, finance, implement, and manage large-scale forest conservation projects.  Our projects help mitigate this trend of tropical deforestation while also preserving precious rainforest habitat and providing alternative economic opportunities for local communities.  These projects, known as Reducing Emissions from Deforestation and forest Degradation (REDD+) projects, are essentially payment for ecosystem service projects which rely on the sale of verified emission reductions (VERs), commonly known as carbon offset credits.

As of today, CarbonCo has several REDD+ projects in the Western State of Acre, Brazil which are protecting more than 700,000 acres.  To help visualize how large these projects are, consider that 700,000 acres is the equivalent to approximately 1,100 square miles.  This is almost as large as the entire state of Rhode Island (1,545 square miles), about the size of the urban area of Paris, France (1,098 square miles) and more than twice the size of New York City (470 square miles).

Our projects are named the Purus, Russas, Valparaiso, and Envira Amazonia Projects.  The Purus Project was the first-ever REDD+ project in Acre to be validated (audit of project design) and verified (audit of project’s performance) to the leading international carbon certifications known as the Verified Carbon Standard (VCS) and the Climate, Community and Biodiversity Standard (CCBS) with Gold Distinction for exceptional biodiversity benefits.  The Russas Project was validated to the CCBS with Gold Distinction for exceptional community benefits and is pending validation to the VCS.  The Valparaiso and Envira Amazonia Projects are also being designed to the VCS and CCBS with Gold Distinction.

Now that we have provided some background on forest conservation, stay tuned for next month's blog post with a more in-depth view of our specific REDD+ projects!

Published in carbonfree blog

As Carbonfund.org is greatly excited about the validation of our Purus Project, the first ever REDD+ project in the State of Acre, to achieve dual-validation to the Verified Carbon Standard (VCS) and the Climate, Community and Biodiversity Standard (CCBS) with Gold Distinction, it is important to also understand the potential broader implications of the Purus Project as it attempts to set the framework for potential REDD+ project inclusion into Phase 2 of the California Emissions Trading Scheme (ETS) providing a confidence boost for the development of broader REDD+ projects around the globe.

Back in November, the State of California launched its first auction for Phase 1 of their ETS from 2013 to 2014.

California’s AB-32, also known as the Global Warming Solutions Act, regulates more than 300 facilities emitting over 25,000 metric tonnes of CO2 each year with a plan to reduce GHG emissions to 427 million metric tonnes of carbon dioxide equivalent emissions (MMTCO2e) by 2020 from the baseline of 507 MMTCO2e. 

The State of California plans to allow emitters to cover a portion of their compliance obligations with offset credits. In Phase 1 of the program, these credits could come from projects in the United States that reduce emissions in the following sectors of: national forestry, urban forestry, ozone depleting substances and agricultural methane. 

However, in Phase 2, commencing in 2015, we are hopeful that the scheme will allow offsets from REDD+ projects in Acre, Brazil, as the State of Acre has a signed memoranda of understanding (MOU) with the State of California, attempting to work this out. At this time, it is still unclear how the program will work.

 If California accepts REDD+projects into the marketplace, it is possible for the Purus Project to be the first project leading the way for broader investment being placed into this forest protection and payment for ecosystem service projects.

Though there are still several prominent steps toward REDD+ inclusion into the California ETS, we will continue to create the best possible projects we can to protect these rainforests and its biodiversity while enhancing the lives of local communities. 

Published in press releases

As Carbonfund.org is greatly excited about the validation of our Purus Project, the first ever REDD+ project in the State of Acre, to achieve dual-validation to the Verified Carbon Standard (VCS) and the Climate, Community and Biodiversity Standard (CCBS) with Gold Distinction, it is important to also understand the potential broader implications of the Purus Project as it attempts to set the framework for potential REDD+ project inclusion into Phase 2 of the California Emissions Trading Scheme (ETS) providing a confidence boost for the development of broader REDD+ projects around the globe.

Back in November, the State of California launched its first auction for Phase 1 of their ETS from 2013 to 2014.

California’s AB-32, also known as the Global Warming Solutions Act, regulates more than 300 facilities emitting over 25,000 metric tonnes of CO2 each year with a plan to reduce GHG emissions to 427 million metric tonnes of carbon dioxide equivalent emissions (MMTCO2e) by 2020 from the baseline of 507 MMTCO2e. 

The State of California plans to allow emitters to cover a portion of their compliance obligations with offset credits. In Phase 1 of the program, these credits could come from projects in the United States that reduce emissions in the following sectors of: national forestry, urban forestry, ozone depleting substances and agricultural methane. 

However, in Phase 2, commencing in 2015, we are hopeful that the scheme will allow offsets from REDD+ projects in Acre, Brazil, as the State of Acre has a signed memoranda of understanding (MOU) with the State of California, attempting to work this out. At this time, it is still unclear how the program will work.

 If California accepts REDD+projects into the marketplace, it is possible for the Purus Project to be the first project leading the way for broader investment being placed into this forest protection and payment for ecosystem service projects.

Though there are still several prominent steps toward REDD+ inclusion into the California ETS, we will continue to create the best possible projects we can to protect these rainforests and its biodiversity while enhancing the lives of local communities. 

Published in carbonfree blog