?? This is our last newsletter

Hi,

This is our last newsletter....until September! For the next month, we will be taking a summer break. But before we go, we would like to share one final round up of reports and news articles with you. Scroll down to find out more on the state of global decarbonisation efforts, the carbon storage potential of kelp and the new framework launched yesterday by the IC-VCM. While we welcome the latest development of the IC-VCM’s Core Carbon Principles, we recognise that there will be a lag until any carbon crediting programs, including those that cover natural climate solutions, are accredited. In the meantime, nature can’t wait - we need to fund the vital conservation and restoration projects that are mitigating climate change right now.?

To fill the summer gap, you are welcome to explore our blog . Here, we publish articles and explainers to help you understand the complexities of the voluntary carbon market and nature-based solutions. Our latest article,?all about soil carbon storage, is available here . Thank you for all your support so far this year and we hope you all have a wonderful summer. See you again on Friday the 8th of September.

Newsflash

• The IC-VCM launched its highly anticipated framework on the 27th July. This will be used assess whether a carbon project meets the requirements of the Core Carbon Principles (CCPs).?Click here for a high-level summary of developments.
• Carbon Pulse clarifies that the IC-VCM framework will only assess Verra-certified REDD+ projects once the transition to its new methodology is completed. However, other projects can already expect to be awarded CCP status this year if they apply and are found to meet criteria.?There is more coverage in Carbon Herald , The Business Times and Reuters .?
• Next, CarbonCredits.com covers a new partnership between Xpansiv and Puro.earth. Under this deal, Puro’s carbon removal credits can be listed on Xpansiv’s spot marketplace.
• In the days preceding the new IC-VCM release, Carbon Pulse reports on the available fixes for legacy credits in the ledgers of the voluntary carbon market.
• Bloomberg discusses the launch of Isometric, a new open-source platform for vetting the science behind carbon removal technologies.
• In a contentious yet insightful read, Reuters analyses whether the VCM will survive this period of mistrust. Conclusions predict that the VCM will be absorbed by regulated markets.
• In contrast, WSJ shares an opinion piece titled ‘The Planet Can’t Wait’ by Nathan Truitt, Senior Vice President of Business Development at the American Forest Foundation. He advocates for a high-integrity voluntary carbon market.
• Finally, Quantum Commodity Intelligence reports that the VCMI is seeking consultants to help refine guidance for claims made on the brand, product and service level.?

Don't miss these reports

Decarbonisation: Speeding up or slowing down?

What's new? After considering the state of decarbonisation across 28 countries and regions, a new report from?Thunder Said Energy ?calls for an “all of the above approach” to reach net-zero emissions.

Why this call to action? The report formed a dire conclusion: progress towards net zero has actually slowed down over the past five years.?We must use every tool at our disposal to reverse this negative net-zero trend.?

By how much has progress slowed? Over the past five years, global emissions rose 0.7 percent (compound annual growth rate). Specifically in 2022, global CO2 emissions soared past fifty gigatonnes a year. This means global CO2 emissions have doubled over the past half century.

Is there hope??Yes, the report is optimistic. It highlights the potential of reforestation and reinvestment not only for climate mitigation, but also for improving economic outlook. It suggests these strategies could help raise the GDP of forty seven of the world’s emerging countries by six to sixty percent. While this is, admittedly a very broad range, the report estimates that investing at scale in reforestation projects could facilitate the removal of 7.5 gigatonnes of CO2 from the atmosphere every year.?

Honourable mentions

Sylvera published a white paper to help define the criteria for high-quality in the voluntary carbon market. And for those interested in soil carbon, we recommend McKinsey's new report on the agricultural transition.?

Can kelp help? New research published in Biological Reviews considers the carbon storage potential of the world's kelp. It's findings show this to be equivalent to the carbon capture ability of 1.1-1.6 billion trees.

Spotlight on...Delta Blue Carbon

Following International Day for the Conservation of the Mangrove Ecosystem on the 26th of July, we would like to shine a spotlight on one of our flagship projects, Delta Blue Carbon . Located the coastal city of Karachi and Sindh province, southwest Pakistan, the project is working hard to restore 225,000 hectares of mangrove forest.?

As one of the biggest mangrove-restoration programs in the world, Delta Blue Carbon will be able to sequester 142 million tonnes of carbon from the atmosphere over a 60-year period. Already, nearly 100 million trees have been planted.

Mangrove’s valuable ability to counteract anthropogenic pollution and sequester carbon emissions, only adds to their existing worth as richly biodiverse ecosystems. Indeed, the mangrove forests in Sindh bring a huge array of benefits:

• The mangroves sequester and store atmospheric CO2;
• They also absorb chemical runoff from nearby textile factories, which can include chromium and lead;
• They even help to break down toxins from sewage and litter dumped into the ocean;
• These forests provide nurseries for fish and feeding grounds for migratory birds;
• What’s more, they protect coastal communities from surges and other extreme weather events.

Benefit sharing is built into the Delta Blue Carbon model. Members of the local community are directly employed to plant and monitor mangroves. Furthermore, a share of the project revenue is returned to the Government of Sindh for a Climate resilience trust.?We are proud to partner with Delta Blue Carbon and support the conservation of this vital, mangrove ecosystem.

Respira's News

NEW ARTICLE: Why we must invest in soil carbon storage

It may sound far-fetched, but it’s true – the top thirty centimetres of the earth’s soil contains almost twice?the volume of carbon as in our atmosphere. But while we increasingly acknowledge the role of the oceans and trees for carbon storage, we often forget the huge potential of the ground beneath our feet.?To address this lapse of attention and raise awareness of the power of the soil, our latest blog will cover why we need healthy soils, what prevents soils from storing carbon and how our flagship portfolio projects work to improve soil health.?The subject has also been covered by the Associated Press in an article discussing how farmers can earn additional income via soil carbon credits.

Ana Haurie discusses Rainforest Foundation UK findings

Our CEO, Ana Haurie, was quoted in Business Green this week as she offered her perspective on a new report from?Rainforest Foundation UK (RFUK). Published July 26th, this report expressed concern over global REDD+ and recommended these projects be excluded from Article 6.4 of the Paris Agreement (the article providing a framework for the international transfer of emission reductions or removals).

While Ana supports RFUK in its efforts to address the challenges of the voluntary carbon market, she questioned the report's conclusion that carbon credits are too difficult. "The power of the voluntary carbon market lies in its ability to mobilise global finance at a speed and scale that isn't currently available through any other route," she said.?"Delaying action now to wait for hypothetical, non-market mechanisms will simply be too little too late."

Dates for the diary

• While we're away, the?Global Research Alliance for Sustainable Finance and Investment Conference will be held in?Connecticut between the 23rd and 25th of August.?

• Between the 4th and the 6th of September, the Africa Climate Summit, will be held in Nairobi .

• And the day before this newsletter returns, The Drop Conference will take place in Malm?, Sweden on the 7th of September.

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Respira International is an impact-driven carbon finance business. Respira’s high-quality carbon credits allow corporations and financial institutions to mitigate their environmental impact. Respira channels private capital into climate solutions ensuring long-term relationships with trusted carbon project developers that enable its clients to use predominantly nature-based solutions to build sustainable, climate-positive businesses and portfolios. Respira’s team combines deep and varied experience working in global financial markets with a robust understanding of carbon project development in leading international conservation organisations. Respira operates with an innovative offtake and profit share model which reinvests back into local communities.?