This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ERA And Wildlife Works Deliver First REDD+ Project In The Congo Basin Rainforest

Stocks in this article: ESR





VANCOUVER, British Columbia and SAN FRANCISCO, Dec. 19, 2012 /PRNewswire/ -- ERA Carbon Offsets Ltd. and Wildlife Works Carbon LLC are pleased to announce the validation and verification of the first REDD+ project in the Democratic Republic of the Congo (DRC). The project has earned 2.5 million tonnes of Verified Emission Reductions to date and will generate an average of 5.6 million tonnes annually.

H.E. Mr. Bavon N'sa Mputu Elima, Minister of Environment, Nature Conservation and Tourism of the DRC stated, "The Ministry welcomes the validation and verification of this project in two rigorous standards - the Verified Carbon Standard and the Climate, Community and Biodiversity Alliance Standard. The Department is pleased to work with ERA- Congo and its partners, ERA Carbon Offsets and Wildlife Works, for the protection of forests in the DRC and the improvement of local community livelihood through REDD+ projects."

The 299,645 hectare Mai Ndombe REDD+ project, a former logging concession in the Bandundu Province, will avoid more than 175 million tonnes of CO2 emissions over the 30-year life of the project.

The local forest community of 50,000 Congolese villagers will receive direct benefits from the project in the form of jobs, schools, health clinics, improved food security through better agronomy and redevelopment of robust native fish stocks, and capacity building of local NGOs and Community Based Organizations all financed through transparent and equitable sharing of the carbon revenues.

"As someone who knows personally the hardships that families in these forest communities have to bear, I am overjoyed at the benefits this REDD+ project will bring, making a brighter future for 50,000 of my friends, family members and compatriots in Mai Ndombe," said local project Manager Jean-Robert Bwangoy Bankanza.

The project area is part of the Congo Basin, the world's second largest intact rainforest after the Amazon. It is part of the Ngiri-Tumba-Mai Ndombe wetland, recognized under the Ramsar Convention as the largest wetland of international importance in the world. It is home to a wide array of biodiversity including highly endangered forest elephants and bonobo chimpanzees, which have been driven away in increasing numbers due to logging and poaching activities. It is expected that the wildlife populations will be restored now that the project area is on a conservation trajectory.

The Government of the DRC will receive a substantial portion of the project income to ensure that REDD+ represents a financially competitive alternative to logging Congo's rich forests.  

The Mai Ndombe REDD+ project is the world's largest REDD+ project to achieve validation and verification under the Verified Carbon Standard (VCS), and received Gold Level validation from the Climate, Community and Biodiversity Alliance Standard (CCBA) for exceptional climate change adaptation and biodiversity benefits.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs