The Joint Venture

The project is an Avoided Planned Deforestation (APD) REDD+ project, which means it is founded on a simple and robust baseline. Taking as its basis the Forest Code, Brazilian legislation which is in place to protect private forested land across Brazil, the project has focused its mission on the proportion of lands that fall beyond these regulatory protections.

Under the Forest Code, landowners located in the Amazon biome must protect 80% of their forested land. This falls to 35% if they live in Cerrado land and 20% in the Atlantic forest. Across Brazil this “forest surplus” represents around 100 million hectares of forests legally eligible for clearing[1]. This project, focused on the Amazon, is leveraging carbon finance to give these vulnerable forests a monetary value and provide landowners with an alternative option to the enticing economic prospects of deforestation.

To date, after rigorous due diligence processes on land titles, carbon stocks and licences of deforestation, the project has successfully engaged with 15 separate properties in Amazon States and protects over 30,000 hectares of biodiverse rainforest within the Amazon biome (additional to legal requirements). Finance from the sale of carbon credits compensates landowners, who have relinquished previously obtained or pending permits to convert the land, and provides funding to local communities living on or near the land to ensure that everyone connected to it sees the benefit of the finance.

Results achieved during the first 2 years of project implementation:

• 13 internet towers installed in remote communities in the Amazon
• 36 solar panels and battery kits delivered and installed
• 70 km of optic fibre installed, connecting remote schools and communities to the world
• 50 families benefited from the project activities, including through training activities and health support for remote communities

brCarbon CEO, Bruno Matta, believes that “the project can be an excellent tool to promote a transition to an economy in which the forest is the main asset… If we can achieve this, we will be able to ensure the survival not only for us but for future generations.” Vertree and brCarbon are aiming to scale the project to 10 million tonnes of carbon avoidance over the next 10 years, ensuring their long-term partnership mobilises finance to forest conservation and sustainable development in the Amazon. 

For Rodrigo Bezerra, Vertree’s Head of Upstream “the project taps into a huge opportunity to preserve large tracts of biodiverse forest, legally regarded as “surplus”, with a clear baseline from which to measure project success. It is our intention to see it scale and realise the potential for large environmental and social impact across the Legal Amazon. There should be no “surplus” forest in the fight to preserve biodiversity, secure the livelihoods of local communities and tackle the climate crisis.”  

The project regularly monitors forest cover and studies the biodiversity within the project areas with the latest LiDAR technology (which brings more accuracy and transparency to carbon measurement), digital monitoring platforms and automated alert systems based on satellite images, , field visits and camera traps, continually improving our understanding of these unique ecosystems and how best to protect them. Through the fauna monitoring, 794 animal species were monitored in the last two years – 334 of them are endemic, and 34 are threatened species. 

But the communities who inhabit them are at the heart of the work undertaken on the ground. The investments made into these communities are now having a tangible impact on people’s lives, in ways which many would take for granted: the ability to communicate instantly with relatives and get news on family well-being; access to a wealth of information for learning, research and training via the internet; access to health care and vaccinations without a three-day round trip; a cold beer from a freezer…! 

Even in these most remote Amazon regions there is a growing awareness of the significance of the forest, of nature and the consequences of deforestation. The hope of Porangaba’s Porongaba’s local schoolteacher, Antonia Graciele Vicente Rodrigues, is that through the project, awareness continues to be raised on the importance of protecting the forest and what it really means if we were to lose it. This remains a central objective of this project and the alliance between Vertree and brCarbon, because as Antonia puts it, “the forest is life”.  

[1] Soares-Filho et al, 2014, Cracking Brazil’s Forest Code, https://www.researchgate.net/publication/310599766_Cracking_Brazil’s_Forest_Code

For more information on the Brazilian Amazon Grouped Forestry Project and how to support it, please get in touch: 

Vertree Media contact

Lucy Haines, Vertree Head of Communications

lhaines@vertree.earth

Hartree Partners, Vertree’s founding partner, and ecosecurities today announce an estimated $1.5bn project to work with local farmers, landowners, associations, co-operatives, and NGOs in the Cono-Sur region of Latin America.

Named Project Araucaria after one of the most endangered tree species in the region, this project will help design, finance, and develop nature-based carbon reduction and removal projects in Argentina, Chile, Paraguay and Uruguay, generating over 10 million tonnes of voluntary carbon credits each year.

Aggressive agricultural land use and conversion in Latin America now account for almost a third of global greenhouse gas emissions, and over half the deforestation in the world[1]. By working alongside people who own, farm, and support work on the land, Project Araucaria aims to reverse this trend by promoting the conservation and restoration of forests and implementing sustainable agricultural practices.

Ariel Perez, Partner at Hartree Partners, said:

“Reducing emissions is vital to halting devastating climate change; but it’s not enough. We also need to remove carbon that’s already in the atmosphere by restoring key habitats that have already been degraded and destroyed.

“Hartree’s project with ecosecurities will bring significant investment and expertise to farmers, agricultural producers, and landowners across Latin America by supporting their efforts to restore habitats and ecosystems, targeting the reduction and removal of carbon in the atmosphere by over 300 million tonnes.”

Ecosecurities, an impact-driven provider of environmental services with over two decades of experience in carbon emissions reduction and removal projects around the world, will use its on-the-ground presence in and knowledge of Latin America to engage farmers, producers, and landowners across the region. Ecosecurities aim to design and implement at least 20 projects and programmes.

Pablo Fernandez, CEO of ecosecurities said:

“If we are to turn climate commitments into tangible action, we must develop solutions that deliver benefits for local people, nature and, as a result, to the entire planet.

“This is why we are delighted to be partnering with Hartree to deliver Project Araucaria – a vitally important initiative that will promote sustainable production practices and, in turn, reduce global emissions.”

The portfolio aims to achieve certification under the Verified Carbon Standard (VCS) and receive Climate, Community and Biodiversity (CCB) status; it will be marketed by Vertree.

Hartree Partners, a leading global energy and commodities trading company will invest, develop, manage, and market the projects, to help meet the surging demand for high quality Verified Emissions Reductions as businesses look to play their part in addressing the climate emergency.

[1] The Nature Conservatory, Growing our way to a healthier climate, February 2017

Hartree Partners and Wildlife Works announce a ground-breaking deal that will generate over $2bn of private sector investment to enable communities to protect biodiversity and forests at risk from deforestation.

13 million hectares of tropical forest, an area the size of Greece, is currently lost to deforestation every year. But, to keep the increase in global temperature below 1.5 degrees in line with the Paris Agreement, more than three quarters of deforestation must be stopped by 2030. Thousands of companies are addressing the climate emergency and, with voluntary carbon markets playing an increasingly prominent role, the demand for Verified Emissions Reductions (VERs) is forecast to outstrip supply.

Hartree Partners, a leading global energy and commodities trading company, and Wildlife Works, an innovative global conservation company, will help meet this surging demand by partnering to invest, develop, manage and market one of the world’s largest portfolios of avoided deforestation projects. Hartree’s investment is effective immediately, with the projects expected to begin delivering VERs by 2023.

The deal, which will increase the availability of high-quality, verified, avoided deforestation projects by approximately 40%, will reduce emissions from deforestation by 20 million tonnes each year and 600 million tonnes over the 30-year life of the projects – equivalent to taking 4.3 million cars off the road.

The partnership will develop more than 20 high-impact projects in collaboration with local communities to improve livelihoods while preserving and protecting forests and wildlife.

The ground-breaking deal was facilitated by Everland, the exclusive marketing partner of Wildlife Works. The portfolio will be marketed by Everland and Vertree.

Ariel Perez, Partner at Hartree Partners, said:

“The scientific community agrees that the world cannot keep the increase in global temperature below 1.5 degrees without significant support from global businesses. Hartree Partners is proud to be providing substantial long-term investment in nature-based solutions through this partnership.

“We’re delighted to be working with such experienced partners as Wildlife Works to ensure that these projects reduce emissions, protect highly threatened species, and enhance the wellbeing of thousands of people in these forest communities who hold the key to stopping deforestation.”

Mike Korchinsky, Founder and CEO of Wildlife Works, said:

“While those in the Global North continue to debate what they want from climate action, our partners in the Global South urgently need just and effective solutions now.

“With Hartree Partners’ financial backing and carbon market expertise, we can implement our just and inclusive climate, community, and biodiversity solutions in many more forest communities where they’re desperately needed.”

Wildlife Works’ proven approach addresses the drivers of deforestation in last-chance ecosystems while rewarding communities for protecting forests and biodiversity.

The portfolio of projects announced today will meet global best practice standards for nested projects under VERRA, including: the Voluntary Carbon Standard (VCS); the Climate, Community and Biodiversity (CCB) standard at the gold level; and the SD Vista standard to verify project contributions to the UN Sustainable Development Goals, and can make a significant contribution to host country Nationally Determined Contributions (NDC) under the Paris Agreement.

Gerald Prolman, CEO of Everland, said:

“Hartree’s financial commitment to Wildlife Works will help give forest governments, landowners, and communities long-term financial confidence as they consider valuing their standing forests under REDD+. The VERs will be offered to businesses as an essential tool they can use as part of their transition plan towards a low-carbon future.

“It is our hope that this partnership’s bold commitment to rapidly scale REDD+ projects will inspire more private sector action at the critical speed and magnitude that is so desperately needed.”