Forest Carbon Methodology Approved

In a world first, Adelaide-based climate science company, Carbon Planet Limited, today announced that its IFM-LtPF (Improved Forest Management — Logged to Protected Forest) methodology was formally approved by the Verified Carbon Standard Association (VCSA), based in Washington DC, on 19 March 2011.

The methodology, now formally known as VM0011, provides a way of calculating the carbon emission reductions that result from cessation of logging of tropical forests. VM0011 is approved for use as a basis for the creation of carbon credits, in the form of Verified Carbon Units (VCUs), from international forest conservation projects. The creation of commercially tradable carbon credits from forest conservation projects provides a direct economic incentive for land owners to preserve forests instead of logging them.

The methodology can be used to develop projects that finance the protection of any tropical forest in the world (except peat swamp tropical forests) that is currently sanctioned for legal selective logging, or which is being logged and where logging is stopped due to the forest conservation project activity.

“Our methodology has been in development by Carbon Planet’s science team since early 2009, and has now completed the VCSA’s double approval process,” said Dr Ross Williams, Carbon Planet’s Adelaide-based founder and CEO. “The VCSA’s process is extremely rigorous, and includes a period for public comment and mandatory reviews by two third-party VCS-accredited reviewers,” Dr Williams said. “In Carbon Planet’s case, the first assessor was Rainforest Alliance, and the second assessor was Bureau Veritas.”

Completeness Delivers Higher Carbon Yields

”The methodology is the only IFM-LtPF methodology that calculates the impact of logging operations on greenhouse gas emissions in addition to the forest degradation itself,” said Dr Williams. “The methodology also includes calculations for the greenhouse gas impact of the forest conservation project itself, in the form of emissions from project implementation and monitoring.”

Carbon Planet’s methodology adopts a systems approach to assess the physical, biological, and biochemical processes that occur during timber harvesting. This is a significantly more comprehensive approach than the alternative “carbon stock change” method because, in addition to the forest degradation due to the removal of harvested trees, emissions due to damage to the non-harvested trees surrounding the harvested trees (“residual stand damage”) are also accounted for.

“Ultimately, for the people who own the forest, the more complete the methodology, the more accurate the calculations, and the more carbon credits can be issued.” Dr Williams said.

The methodology contains a comprehensive monitoring plan for the required monitoring and verification of projects. This includes detailed guidelines on the establishment and monitoring of permanent sample plots for collecting forest data directly through field measurements.

A Leader In Forest Carbon

The expertise gained through the development of this methodology positions Carbon Planet as a leader in forest carbon accounting. Carbon Planet will use this expertise and its new methodology to develop its own large-scale forestry emissions reduction projects with its partners around the world. The carbon credits issued for these projects will be traded by Carbon Planet in the international voluntary carbon market, with revenues flowing back to landowners and Carbon Planet. “Carbon Planet has a portfolio of forest conservation projects around the world that have been waiting for this methodology. Now that it has been approved, Carbon Planet can proceed swiftly with its project development plans and the creation of VCU carbon credits.” Dr Williams said.

Potential For Billions Of Tonnes Of Carbon Savings

With the forest carbon sector set to boom world-wide as forest communities learn that they can earn a living by saving their forests, the methodology holds the potential to enable billions of tonnes of carbon savings. Under VCSA guidelines, Carbon Planet will receive a royalty for every credit created by third parties using its methodology during the next ten years, potentially yielding millions of dollars of royalties for Carbon Planet.

Dr Williams said “This is a win for the forest-owners of the world that are seeking to protect their forests and enhance their way of life. It is a win for forest carbon project developers, and it is a win for Carbon Planet. But ultimately it is a win for the entire planet.”

More Information

About Carbon Planet

Carbon Planet helps fight climate change by providing specialised scientific software and commercialisation services for the global carbon markets.

About the Verified Carbon Standards Association

The VCSA is the most widely-used carbon accounting standard employed by projects issuing credits in the voluntary market. Founded in 2005 by the Climate Group, the International Emissions Trading Association, and the World Business Council for Sustainable Development, the VCSA has pioneered trusted and innovative tools for generating quality GHG credits.

Carbon Planet Contact Information

For more information on this press release, please contact Carbon Planet’ via carbonplanet.com/contact.
More information on Carbon Planet can be found at carbonplanet.com
Related Links

• The Verified Carbon Standard Association
• The VCSA’s page for the Carbon Planet methodology
• Carbon Planet Limited
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