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New credits from Tanzanian project could allow forestry to play larger role in voluntary offset market
An “historic milestone” in the forestry carbon market was reached this week as the first carbon credits from a land-use project were verified and issued under the Voluntary Carbon Standard (VCS).
Credits from the Uchindile-Mapanda reforestation project in Tanzania were issued on the VCS registry system hosted by APX in a move that experts predict will further stimulate growing investor interest in forestry protection projects.
Jonathan Shopley, managing director of The CarbonNeutral Company, which is currently the only carbon offset firm to make the credits available, said the new VCS-approved credits would bolster the credibility of forestry-related carbon credits.
“Businesses that are committing to significant carbon reductions can now achieve this by purchasing and retiring high-quality, verified VCS Agriculture, Forestry and Other Land Use (AFOLU) carbon credits,” he said. “This credible, permanent offsetting development is a historic milestone for us, for our clients, for the carbon marketplace and for forestry.”
The Uchindile-Mapanda project takes degraded grassland and converts it into sustainably harvested forests that sequester carbon emissions from the atmosphere and generate carbon credits. Some 40 per cent of the credits have been set aside
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- Voluntary Carbon Standard tops assessment of forestry carbon standards http://bit.ly/17miKu #carbon #ets #cprs #cdm #redd #forestry