A carbon conservation project in Kenya has become the first to win validation for REDD credits under the Voluntary Carbon Standard.
The U.S.-based Wildlife Works said today the Voluntary Carbon Standard (VCS) issued the first REDD-based Voluntary Carbon Units (VCUs) for its Kasigau Corridor REDD project, which protects over 500,000 acres of forest in Rukinga, Kenya.
“This is a watershed moment for REDD projects everywhere because it demonstrates they can attract private investment to this critical work,” said VCS CEO David Antonioli in a statement. “These credits, which are the world’s very first REDD credits issued under a major third party GHG program, will chart the course for the conservation of large swaths of forest.”
Ecosystem Marketplace has an analysis of the deal and what it means for the future of carbon finance — both compliance and voluntary — at Kenyan Carbon Project Earns First-Ever Voluntary REDD Credits.