November 15, 2024
ARLINGTON, Va. (Nov. 15, 2024) – Today, Conservation International's Senior Vice President, Global Indigenous Peoples and Local Communities Center, and ICVCM Governing Board Member Francisco Souza issued the following statement:
Souza said:
“Conservation International applauds the Integrity Council for the Voluntary Carbon Market (ICVCM) for approving the first set of science-based REDD+ methodologies. This decision will increase the integrity of carbon credits and boost market confidence, helping to unlock urgently needed large-scale investment in high-quality nature-based solutions.
“This significant milestone marks the first time the Integrity Council has formally recognized that natural climate solutions can generate high-integrity credits. It sends a strong signal acknowledging the role and value of high-quality natural climate solutions (NCS) and could drive additional, urgently needed, and otherwise unavailable funding to the Indigenous Peoples and local communities that manage and conserve nature. It is equally an important step to recognize the rights of these communities, including the essential compliance with the Free, Prior, and Informed Consent principle to respect their voices, decisions, and contribution to nature and climate.
“This development is a meaningful step forward in advancing the ICVCM’s work to build a high-quality voluntary carbon market that contributes to the goals of the Paris Agreement, countries’ Nationally Determined Contributions, and the UN’s Sustainable Development Goals.
“With finance and carbon markets a key topic at COP29, Conservation International believes that today’s announcement will boost public and private-sector confidence in investing in, protecting and restoring nature, which can provide at least 30 percent of the global action needed to avoid the worst impacts of climate change -- using markets as a proven solution that can help close the US$ 700 billion annual financing gap for nature.
“We look forward to the Integrity Council’s forthcoming decision on the equally critical methodologies for high forest cover, low-deforestation (HFLD) regions and jurisdictional-scale carbon removals. These two REDD+ pathways are foundational for robust markets that support nature and Indigenous Peoples and local communities. Besides being rich with biodiversity and carbon stocks critical for maintaining climate stability, HFLD regions are home to a substantial percentage of their lands which face the same threats and have far less access to carbon finance. Markets need to officially recognize the self-determination, consultation, inclusion and participation of, and direct financial benefits to, these communities -- while recognizing their critical role enabling nature to provide climate solutions.
“Conservation International congratulates the ICVCM for continuing to advance market integrity based on the best available science, increase climate action and ambition, and channel much needed financing to people, nature and the climate.”
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About Conservation International: Conservation International protects nature for the benefit of humanity. Through science, policy, fieldwork and finance, we spotlight and secure the most important places in nature for the climate, for biodiversity and for people. With offices in 30 countries and projects in more than 100 countries, Conservation International partners with governments, companies, civil society, Indigenous peoples and local communities to help people and nature thrive together. Visit Conservation.org for more, and follow us on Conservation News, Facebook, Twitter, TikTok, Instagram and YouTube.