A REDD methodology submitted to VCS has been completed the first of two required validations. The REDD methodology includes carbon accounting procedure for acitivites avoiding deforestation and forest degradation, as well as restoring degraded forest.
Back to the history, the origin idea of REDD was proposed by The Coalition of Rainforest Nations. The idea focuses only on deforestation, without additional D -degradation. Now, its become REDD plus–indicating broader framework reawarding forest conservation, sustainable forest management or enhancement of forest forest carbon stocks
What is the baseline and how to addresing the leakage?
Terra Global Capital explains the baseline, or without-project scenario, is determined using a land-use change model that is calibrated based on data on historical land-use change in a reference region that has forest dynamics similar to the project area. Terra Global Capital is carbon finance consulting who submitted the REDD project methodology.
Leakage, which refers to the displacement of deforestation outside of the project area, is accounted for using a combination of monitoring in a leakage belt surrounding the project areas, and a pre-determined discounting factor for leakage that occurs beyond the leakage belt. The methodology explicitly includes rigorous accuracy tests and discounting procedures that are designed to reward project participants who improve monitoring accuracy over time.
The methodology will be used to create the VCS Project Document for the Oddar Meanchey REDD project which involves 13 Community Forestry Groups and more than 50 villages. The project is expected to protect nearly 70,000 hectares of forest and generate 7.1 million carbon credits over a thirty year period. Recent finding says that under poor management, forest is likely exerbate greenhouse gas effect.
In exchange for their commitment to conserve and enhance the forest carbon stock in the 13 community forests, members of those community forests receive the following: legal tenure to the land, at least 50% of net income from the sale of carbon credits, employment opportunities in the forest and community safety.
The Oddar Meanchey REDD project might be the recent REDD project that achieve good steps of development, leaving less Copenhagen certainty. Previously, there were only pilot level REDD project demonstrated in Amazon forest. REDD project enrichs public invesment on climate change mitigation–other alternate invesment is payment on environmental services (PES).