New Corporate Buyer’s Guide to purchasing UNFCCC REDD+ Sovereign Carbon Credits published
Wednesday, 12 April 2023, New York; A new edition of the UNFCCC REDD+ Sovereign Carbon Credits – A Corporate Buyers Guide was published today. The publication is aimed at corporations and financial institutions looking to buy Paris Agreement-compliant emission reductions to achieve their net zero-carbon targets and protect tropical rainforests.
The credits offer carbon reductions and carbon removals (not carbon avoidance) accomplished by rainforest nations. The publication provides a step-by-step guide to purchasing UNFCCC REDD+ sovereign carbon credits, verified by the UNFCCC REDD+ measuring, reporting, and verification process. REDD+ sovereign carbon credits can be purchased on the REDD.plus platform.
“This new edition helps buyers navigate the complex world of the UNFCCC and the Paris Agreement to purchase high-quality carbon credits from carbon reductions and removals accomplished by countries from efforts to save rainforests,” says Kevin Conrad, Executive Director, of Coalition for Rainforest Nations.
The guide aims to answer the following questions:
- Why tropical rainforests are the critical climate solution
- 12-Step REDD+ Sovereign Carbon Credit Process
- Phase One: Country Readiness
- Phase Two: Carbon Generation: Reviews and Submission
- Phase Three: Issuance, Distribution Compliance
- REDD+ Measuring, Reporting & Verification (MRV) System and the Role of UNFCCC Experts
- Practicalities of Purchasing Sovereign Carbon.
As formalized in Article 5 of the Paris Agreement, the REDD+ mechanism was designed to “slow, halt, and reverse forest cover and carbon loss” across an entire country and now covers over 90% of the world’s tropical forests. It has led to sequential declines in emissions, protected the world’s rainforests over two decades, and is enshrined in the Paris Agreement.
The UNFCCC REDD+ framework was designed to compensate developing nations for reversing deforestation at the national level and eventually conserving their forests – and comes with a strict set of requirements to be met by each nation before sovereign credits can be issued. Reported data are subject to a rigorous technical review process by the UNFCCC.
The Coalition for Rainforest Nations is running a series of Corporate Buyer workshops and webinars this year to promote the guide. The first webinar took place on March 30th for Environmental Finance (click here to view).
The next corporate buyers bootcamp workshops will be at Carbon Forward, Asia conference in Singapore on May 2. To register, click here (https://carbon-forward.com/carbon-forward-asia-2023/). Additional workshops with be available in New York and London later in the year.
