Terra Global announces the signature of a groundbreaking agreement with OPIC. The agreement provides Terra Global with political risk insurance covering its investment in an Asian-based reduced emissions from deforestation and degradation (REDD) carbon project.
Developed by Terra Global Capital in partnership with Community Forestry International, this is the first REDD Methodology to be dual validated under the VCS.
This paper, developed for the Governors’ Climate and Forests Task Force (“GCF”) introduces an Integrated REDD (IREDD) system, which is a nested REDD system where (1) credits can only be generated from formally registered project areas, (2) incentives are built-in to maximize the formally registered project area within a given jurisdiction, and (3) funding mechanisms are in place to support government programs and policies that promote reductions in deforestation but have no direct and causal relation with empirically observed emission reductions.
This methodology quantifies the GHG emission reductions and removals generated in mosaic and landscape scale REDD+ projects by allowing such project activities to be combined with improved forest management, afforestation, reforestation and re-vegetation activities, as well as clean cookstoves initiatives. This allows for a more holistic landscape approach to REDD+ activities that integrates efforts to protect forests with programs to improve the livelihoods of rural communities. This methodology received Verified Carbon Standard approval in October 2013.
In a ceremony held last month in Samraong, Cambodia’s Forestry Administration, in partnership with Community Forestry International/Pact and Terra Global Capital, signed agreements with 09 community forestry groups.
