January 24, 2023
At a time when the need to preserve tropical forests is greater than ever, we would like to comment on the criticism of so-called REDD+ projects certified by Verra
An article published in The Guardian (and mentioned in Aktuell HĂ„llbarhet, among others) has sparked a debate about the value of carbon offsets, specifically credits in so-called REDD+ projects certified by Verra. There are different types of carbon offsets and also different standards, and there is a risk that all variants will be lumped together. Since we think that the article affects carbon offsetting in more general terms, we want to convey our thoughts on this.
ZeroMission has been brokering credits that deliver climate benefits since 2006. In total, this corresponds to almost 5 million tons ofCO2 equivalents. We believe that the Voluntary Carbon Market (VCM) is an incredibly important mechanism for channeling finance to smallholder farmers and communities in developing countries. That's where the funding does the most good per dollar and that's also where climate change hits hardest. High-quality carbon offset credits finance projects that, in addition to climate benefits, often also meet a wide range of other UN Sustainable Development Goals.
Most of the credits that ZeroMission mediates in REDD+ projects are certified by Plan Vivo. These projects are comparatively very small-scale and a requirement built into the standard itself is that projects should be designed to include the local community, that there should be a transparent and fair distribution of income between all smallholders and other stakeholders. This is of course right in itself, but it is also the only way to ensure local involvement and to manage the risks that projects will not end.
The voluntary carbon offset market is still relatively young and we know that there are challenges at different levels. Calculation models and methodologies can always become more accurate, and in that perspective it is good that the kind of criticism that is now being raised is coming to light. That said, we are confident that our tree projects certified by Plan Vivo deliver credible and tangible climate benefits.
At a time when the climate crisis is growing, we believe that all efforts for the climate are needed. Today, voluntary carbon offsetting remains the only way to channel capital to finance projects in the communities where it is most needed. To preserve threatened forests, to reforest degraded land and to protect people from climate change. If done right, positive and lasting change can be created for climate, people and nature.
