Are you interested in learning more about Blue Carbon projects?
In this edition, we are delighted to share with you the highlights and progress of our ClimateSeed business, as well as the latest news from the carbon market.
Key Dates?
July 26: International Day for the Conservation of the Mangrove Ecosystem.
July 30: SBTi will issue a draft of rules for using environmental certificates to reduce Scope 3 emissions, following stakeholder consultations.
September: New York Climate Week will be taking place in New York City.?
October: UN Biodiversity Conference (Biodiversity COP16) in Colombia.
?? Top Environmental News Highlights & Policy Updates
1?? VCMI Launches Public Consultation on Scope 3 Claim to Enhance Corporate Decarbonization Efforts
The Voluntary Carbon Markets Integrity Initiative (VCMI) is holding a public consultation from September 2 to October 7 on the proposed Scope 3 Claim. This aims to refine the claim, helping companies address scope 3 emissions and support carbon markets. Stakeholder input will ensure the claim is robust and effective. Finalization is planned for Q1 2025, with responses published in late 2024. Read more.
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2?? Carbon Credit Validation, Verification and Certification Market worth $884 million by 2030?
The global Carbon Credit Market is driven by strict environmental regulations, carbon pricing, corporate sustainability strategies, and ESG-focused investments. Policies like the EU ETS and California's Cap-and-Trade, along with technologies like blockchain and GIS, enhance carbon credit accuracy and efficiency. International agreements like the Paris Agreement further boost demand for reliable validation and verification systems.
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3?? IPCC Highlights Essential Role of Ocean-Based Carbon Removal Technologies
The UN’s IPCC stresses the necessity of carbon dioxide removal (CDR) technologies to meet Paris Agreement goals, with the ocean offering significant potential. Key marine CDR (mCDR) methods include ocean alkalinity enhancement, ocean fertilization, biomass sinking, and direct ocean removal. These approaches aim to boost the ocean's natural carbon sequestration, with innovations and protocols from organizations like Isometric and companies such as Planetary Technologies advancing their practical application.
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4?? Gold Standard Releases Draft Methodology for Mangrove Carbon Removals
The Gold Standard has published a draft methodology for carbon removals from mangrove ecosystems. The draft, open for consultation, applies to restoring mangroves worldwide and incorporates both in-situ measurements and remote sensing to monitor carbon pools. This methodology aims to facilitate carbon removal accounting in mangrove restoration projects, which are attractive due to their high carbon removal rates and rapid biomass restoration.
??? Register for our next Webinar
Join our webinar 'The Role of Blue Carbon in Protecting Coastal Ecosystems', for an engaging exploration of Blue Carbon and its significance in coastal ecosystems. Learn about mangrove types, their carbon sequestration capabilities, and the social and environmental benefits of projects like Mexico’s first certified blue carbon initiative. Hear firsthand from experts about challenges faced, community impacts, and future plans.?
The webinar will take place in Spanish, but you can choose captions in the language of your choice.
?? Our Recent Visit to Tabasco, Mexico
ClimateSeed is financing the implementation of two Blue Carbon projects. The first community covers an area of 416 hectares of mangroves and includes 89 community members (49 of which are women), while the second one is 736 hectares of mangrove and includes 42 community members (2 of which are women).
?? Articles on blue carbon projects
We have prepared an in-depth article to provide you with a complete understanding of Blue Carbon projects, along with the various types associated.?
? Spotlight on a ClimateSeed Collaboration
AXA Climate, AXA Seguros México and ClimateSeed created the first insurance policy for the first certified Blue Carbon projects in Mexico.??
How does the insurance work??
As soon as a hurricane sweeps through the protected area, compensation is triggered automatically. Compensation is sent directly to the San Crisanto Community (the policyholder), in order to support repair efforts following on from damages caused by the hurricane. This process will support the regeneration of a thriving ecosystem while still ensuring the sustainability of the carbon credits which are associated with it.
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Stay tuned for more.