#2 Your latest updates on Nature-based Solutions, Carbon Projects, and Deforestation Compliance (EUDR)
Before we start!
Have you registered for our upcoming webinar on EUDR Compliance?
??? Now's your chance! Join us on June 4th for "EUDR Compliance: What Every Business Must Know Before the Deadline"
As the EUDR implementation date approaches, ensure your business is ready and compliant!
Webinar Highlights:
? EUDR Checklist: Understand the consequences of non-compliance.
? Supply Chain Impact: How EUDR will transform global supply chains.
? Benefits of Traceability: Beyond compliance.
? Deforestation Regulation Readiness Report
? Role of Satellite Data: Essential for monitoring deforestation.
?? Special guests: Michael Jakobsen Preferred by Nature’s European Regional Director Business Development, and David Coleman Chief-Product-Officer at iov42!
??? Register now to secure your spot and ensure your business is prepared for EUDR compliance!
Carbon Market Reality Check
? Microsoft Buys More Carbon Credits in Brazil Reforestation Push (by Bloomberg)
? Bursa Malaysia To Hold Its First Carbon Credit Auction In July (by Carbon Herald)
? ClearBlue and Kita forge groundbreaking alliance to enhance voluntary carbon market enhancing (by FinTech Global)
? Natural Climate Solution Carbon Credits: The role of project developers and communities (Interesting read by World Business Council)
Carbon Market Check
In this edition of our newsletter, we're focusing on carbon buyers and exploring 5 Critical Questions to Ask Before Buying Carbon Projects.
1) Are you required to offset your carbon emissions, or are you choosing to do so voluntarily?
- Voluntary Markets: Allow businesses to select from a diverse array of projects globally based on their sustainability goals. Flexibility is a key advantage, though navigating these markets requires careful consideration of various standards and protocols.
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- Mandatory Markets: Governed by stringent government regulations, these projects must adhere to strict rules to ensure carbon offsets are legally valid and provide real, measurable environmental benefits.
2) Are you planning to offset emissions locally, near your value chain, or internationally?
- Local Offsetting: Supports projects that enhance environmental quality directly within your community or region, such as reforestation, biodiversity conservation, and public health improvements.
- Near Your Value Chain: Targets environmental impacts across your operations, extending benefits to the regions where your business partners are located, thus promoting sustainable development throughout your supply chain.
- International Projects: Typically located in developing countries, these projects can offer substantial benefits like sustainable employment and health improvements, addressing emissions on a global scale.
3) Are the costs of projects in this location lower than the average, and if so, why?
Project costs vary significantly by location, affected by local development costs and the economic scale of the region. Understanding these variances is crucial to maximize the efficiency of your investments. Additionally, premiums for projects in unique or less common locations reflect the voluntary market’s valuation of rarity and specific environmental or social impacts.
4) Is the area of the project potentially having negative impacts?
Recent studies, including those by Carbon Brief , reveal that many carbon offset projects have a detrimental impact on indigenous populations and local communities, often excluding these crucial stakeholders from the planning and benefits of the projects. This oversight can jeopardize the sustainability and ethical foundation of the projects
5) What are the prevalent types of carbon projects in this specific geographical area?
Different regions may focus on specific types of carbon projects depending on local environmental needs, regulatory frameworks, and available technologies. For instance, Asia has a high concentration of projects, with a significant emphasis on forestry and renewable energy. Understanding the specific characteristics and effectiveness of projects in your targeted geographical area is vital for making informed investment decisions.
By considering these five critical questions, you can ensure that your investments in carbon projects are not only strategically sound but also align with broader environmental goals and ethical standards. This thoughtful approach will help you navigate the complex carbon market more effectively, contributing to sustainable development and the fight against climate change.
Once a potential carbon offset project has been identified, the next essential step is conducting a detailed examination using Orbify 's platform. This advanced analysis ensures that your project is fully aligned with environmental objectives and demonstrates strong sustainability credentials.
Orbify's platform can help you evaluate a carbon project before making an investment, so book a demo with us and let us guide you!
EUDR reality check
1) EU, Malaysia to work closely on forest protection & sustainable commodity production (by Business Times)
2)Brussels, do we have a problem with EUDR? (by Confectionary News)
3) Austria’s?farming,?economy?ministers urge von der Leyen to delay EU anti-deforestation?law (by Euractiv)
4) Countries, including US, seek changes to EU deforestation regulation (by The Jakarta Post)