Work will begin in six countries in Africa and focus on developing high impact nature-based carbon removals
Climate Impact Partners and the Global EverGreening Alliance are partnering to develop nature-based carbon removal projects and community led approaches in Kenya, Ethiopia, Malawi, Tanzania, Uganda, and Zambia. This effort is part of Restore Africa, building more resilient livelihoods, restoring productivity to degraded landscapes, and drawing down significant volumes of carbon from the atmosphere.
The Global EverGreening Alliance works closely with NGO partners on-the-ground to understand specific local requirements and works with communities to deliver projects that regenerate degraded land and restore ecosystems. The African projects are expected to cover 1.5 million hectares and benefit 1.4 million households. The work will begin in 2023 and the projects will be set up to deliver a revenue share from carbon credit sales directly to the communities involved.
Climate Impact Partners, specialists in carbon market solutions for climate action, will deliver early-stage finance that will help identify and implement the highest quality projects, and be responsible for the sale and retirement of all carbon credits generated to its global list of clients. The projects will enable communities who are suffering the worst effects of climate change yet with least responsibility to adapt farming practices in order to be sustainable for the long term.
“This landmark strategic partnership represents the greatest mobilization of private sector resources to support small-scale farmer-led carbon removal programs. It’s a paradigm shift in the way development initiates are funded and, together with Climate Impact Partners, we aim to transform the livelihoods and degraded lands of millions of vulnerable farming families in the years ahead,” said Chris Armitage, Chief Executive Officer of the Global EverGreening Alliance.
“Many of our clients have made commitments to net zero emissions and want to invest now in the impactful, high-quality projects that will enable us to deliver that global transformation,” says Vaughan Lindsay, Chief Executive Officer at Climate Impact Partners. “We’ve chosen to partner with The Global EverGreening Alliance because their approach helps to direct finance to countries and communities most impacted by our rapidly changing climate. The investments being made in these countries are critical to delivering human and environmental benefits that are essential for a thriving future, from removing carbon emissions, to restoring biodiversity, to improving health and livelihoods.”
After the initial projects in Africa are launched, the partnership will expand to deliver additional high impact nature-based carbon removal projects in other areas of the world.