Natural Climate Solutions: Monthly News & Reports Summary
News stories from March 2021
- Destruction of world’s forests increased sharply in 2020. Calls for forests to be high on COP26 agenda after loss of 42,000 sq km of tree cover in key tropical regions
- Regrowing a tropical forest – is it better to plant trees or leave it to nature? The destruction of tropical forest is a major contributor to biodiversity loss and the climate crisis. In response, conservationists and scientists like us are debating how to best catalyse recovery of these forests.
- To Zero Out Emissions, Chile Must Rethink Its Forestry Industry. The South American nation shows how much countries and companies are relying on planting trees to absorb their pollution.
- Pilot project aims to protect grasslands through carbon offset market program. The two-year pilot project will allow landowners and ranchers to generate offsets for carbon stored in conserved grasslands in Canada. Funding has been provided through the Canadian Agricultural Partnership, with industry funding from Shell Canada
- Total to plant 40,000-hectare forest in Congo. Energy major Total has partnered with French consulting organisation Forêt Ressources Management to plant a 40,000-hectare forest in the Republic of the Congo, which is forecast to sequester more than ten million tonnes of CO2 over 20 years
- UK Government to invest £150m in protecting rainforests. The Mobilising Finance for Forests Programme is also expected to attract as much as £850m in private investment, support thousands of green jobs across multiple sectors, and is predicted to provide a 23% reduction in carbon emissions.
- CBL Launches Nature-Based Global Emissions Offset. Xpansiv have announced the launch of a new product called the Nature-based Global Emissions Offset (N-GEO). The N-GEO will be composed of Agriculture, Forestry, and Other Land Use (AFOLU) projects with additional Climate, Community, and Biodiversity (CCB) accreditation
- Brazil’s Forests Are Being Restored — Now We Can See Where. We often hear how Brazil’s deforestation crisis threatens its major ecosystems and the people who live in them. That’s an undeniable truth. But, even as the country lost 2.7 million hectares (6.6 million acres) of tree cover in 2019 alone, regenerating forests is also a big opportunity
- Colombia targets 30% reduction in deforestation; 2020 figures ‘positive’. Colombia is targeting a 30% reduction in deforestation during President Ivan Duque’s term, which ends in August 2022, Environment Minister Carlos Eduardo Correa has said
- U.S. Ag secretary wants soil carbon market. Only a minute into his speech on March 1, United States Agriculture Secretary Tom Vilsack mentioned carbon sequestration and paying farmers to store greenhouse gases in the soil.
- IHS Markit Builds Out Carbon Market Infrastructure with Launch of Meta-Registry. Information and analytics provider IHS Markit has announced that it will launch a Carbon Meta-Registry, a new platform designed to seamlessly connect independent carbon credit markets and registry systems around the world
- Britain eyes London as global carbon offset market hub. Britain is taking steps to establish London as a global hub for the trade of voluntary carbon offsets, finance minister Rishi Sunak has said.
- World Economic Forum: are conducting a Nature and Net Zero Consultation Survey. The purpose of this consultation is to refine, validate and adjust the recommended actions set out in out their consultation document. The consultation closes on 9 April.
- British Colombia: The BC Government has released the Forest Carbon Offset Protocol (FCOP) Version 2.0 Technical Discussion Paper. This a companion document to FCOP 2.0. and a part of the BC Government’s update of the first version (2011) FCOP. The updated FCOP 2.0 Protocol will be available soon, at this link. Engagement on this technical document is open until 31 May 2021.
Policy & Market Developments
- The Woodland Carbon Code has launched Version 2.1. There is a new standard document, and new template documents for all stages (registration, validation and verification). The Woodland Carbon Code has also been endorsed by ICROA in their Code of Best Practice for Carbon Management Services
- Verra sets out emissions baseline changes for multi-level REDD frameworks. Offset standard developer and manager Verra announced has plans to revise the methods for setting reference levels under its VCS project-level and Jurisdictional and Nested REDD+ (JNR) programmes, aiming to streamline emissions accounting and incorporate scientific best practices
- Public International Funding of Nature-Based Solution For Adaptation: A Landscape Assessment. World Resources Institute, March 2021
- Climate action during the pandemic. Green Climate Fund Annual Results Report 2020