NEW YORK--(BUSINESS WIRE)--Carbon Direct has published a new report, “Opportunities for Ecological Restoration in the Voluntary Carbon Market.” The report, written in collaboration with Meta, explores barriers for ecological restoration projects on the voluntary carbon market and provides a roadmap for how buyers in the carbon market can support both climate change mitigation and biodiversity. Carbon Direct and Meta will discuss the findings of the report in a special breakfast briefing at Carbon Unbound in New York on May 23, 2024. To learn more, visit: www.carbon-direct.com/events/carbon-unbound-east-coast
>> Read the report: Opportunities for Ecological Restoration in the Voluntary Carbon Market
“While our carbon-focused commitment is an easily measured and time-bound goal, we acknowledge that carbon is just one lens of the multi-faceted nature of the climate crisis. As we engage with the voluntary carbon market, we see an opportunity to address climate beyond carbon mitigation alone,” wrote Meta in a foreword for the report. “We hope buyers and project implementers will use the findings in this report to increase the number and quality of carbon projects that effectively prioritize ecological restoration.”
In 2022, nature-based projects represented about 17% of voluntary carbon credit project issuances from the four largest registries. Project types with considerable potential to restore ecological systems—afforestation, reforestation and revegetation (ARR), wetland and mangrove restoration, and improved forest management (IFM)—comprised just 13% of these nature-based issuances.
“Climate- and nature-related risks are inextricably linked. Increasing opportunities for projects that meet quality standards for both ecological restoration and carbon sequestration recognizes this important link between nature and climate and drives beneficial outcomes for both,” said Dr. Sarah Federman, Ph.D., Director of Landscape Decarbonization at Carbon Direct and lead author of the report. “By signaling clear demand for restoration-oriented projects, buyers can help to better align carbon- and biodiversity-related priorities in the voluntary carbon market. “
The report outlines five key strategies to accelerate the supply of high-quality carbon removal projects that deliver ecological restoration and biodiversity co-benefits:
- Signal clear demand for restoration projects by prioritizing ecological restoration outcomes in carbon removal purchasing on the voluntary carbon market.
- Mix restoration-oriented and traditional approaches in innovative carbon project design, including implementing safeguards and practices aimed at maximizing biodiversity and ecosystem function.
- Build the “missing middle” between local implementers and international buyers in part by encouraging buyers to invest in working with less commercially-sophisticated providers.
- Adapt rules that govern carbon projects to promote more restoration across registries and protocols and define quality standards.
- Use blended finance tools, including buyer coalitions, to unlock new commercial sources of capital and de-risk purchasing from restoration-oriented projects.
To read the full report, visit: https://www.carbon-direct.com/research-and-reports/ecological-restoration-in-the-voluntary-carbon-market
About Carbon Direct
Carbon Direct helps organizations go from climate goal to climate action. We combine technology with deep expertise in climate science, policy, and carbon markets to deliver carbon emission footprints, actionable reduction strategies, and high-quality carbon dioxide removal. With Carbon Direct, clients can set and equitably deliver on their climate commitments, streamline compliance, and manage risk through transparency and scientific credibility.
Our expertise is trusted by global climate leaders including Microsoft, American Express, and Alaska Airlines, as well as by the World Economic Forum, which selected Carbon Direct as an Implementation Partner for the First Movers Coalition. To learn more, visit www.carbon-direct.com.
