Plannet Zero is bringing attention to the importance of carbon finance. They believe that this is key to solving the environmental problems the world is facing right now.
November 4, 2021 —
Some take the position that the recent widespread forest fires prove that emissions from deforestation and forest degradation (REDD) lack permanence. They go further to say that such projects should not be supported by the voluntary carbon markets. Plannet Zero argues the opposite. They claim global forest fires should strengthen the resolve to better protect the projects already in the system. The geographic scope should also be expanded to include those areas that saw so much forest devastation this year, such as the Mediterranean and Turkey.
Some countries are naturally more at risk of forest fires – Greece, Turkey, Australia and others. This stresses the need to expand the geographic reach for deforestation protection in those regions. Verra, a standard for certifying carbon emissions reductions and which holds the majority of forestry projects, is leading the way. In April 2021, it updated its criteria to use carbon finance to protect forests in Europe. This is on the basis that the threat to the forest can be proved and that the sector is not covered by an emissions trading scheme (ETS).
The organization also believes we need a better fire protection criteria. This could drastically reduce the likelihood of fires in the future. Verra stipulates parameters in its Agriculture, Forestry and Other Land Use (AFOLU) non-permanence risk tool. However, Plannet Zero thinks these could be tightened to cover unnecessary and dangerous risks, such as the dumping of waste.
There is some insurance against the loss of forests in carbon project areas. This is commonly known as the buffer. A measure is taken to determine the level of risk to the area. A corresponding value is then attributed and applied as a percentage of that project’s credits. This is then held as the buffer. The process is built into the project design document.
Every year, forest fires are becoming more of a threat. The Australian forest fires of 2019 reportedly led to 700 million tonnes of CO2 emissions. In 2020 alone, 4.2 million acres of Californian forests burned. Many climate experts believe forest fires are directly linked to climate change. As global temperatures increase, natural disasters and hazardous weather patterns are likely to become far more common. Plannet Zero believes the world, and the forests that help it breathe, need greater protection.
By creating new offset emissions projects and improving validation techniques, the team at Plannet Zero believes that not only can our indispensable forests be preserved but that companies can also deliver on their environmental ambitions.
About Plannet Zero
Plannet Zero has the ambition to help every business reduce its carbon footprint and cut a clear path through the carbon market. The team guides companies through effective reduction techniques that guarantee emissions removals.
Businesses have many demands on their time. Plannet Zero makes it simple. With carefully designed products that can be adapted for change, companies can easily join the journey to net zero.
The critical work of protecting forests is just part of the goal. We can do more.
More information on the proposed solution can be found by using the contact details for Plannet Zero below.
Plannet Zero
https://plannetzero.org/
countmein@plannetzero.org
Contact Info:
Name: Plannet Zero
Email: Send Email
Organization: Plannet Zero
Website: https://plannetzero.org/
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Release ID: 89051861
