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Biodiversity and Social Carbon
Environmental Finance, Jan 2010, Pages: 142
In this timely book, the authors explain the thinking behind the Social Carbon methodology; how it was developed; how it has been applied to a variety of projects; and how it has proven to be a dynamic and flexible tool that can help combat the twin challenges of climate change and biodiversity loss
Since the birth of the carbon market, there have been persistent demands that projects receiving carbon credits should not only curb greenhouse gas (GHG) emissions but also make a contribution to the sustainable development of the host community.
This requirement is explicit in the definition of the Clean Development Mechanism – a cornerstone of the Koyoto Protocal – which grants tradable credits to projects in developing countries that reduce or prevent GHG emissions. But it has also been adopted enthusiastically in the voluntary carbon market where many buyers, for reasons of social responsibility or shareholder pressure, want to show that the projects they support generate clear sustainable development benefits as well as emissions reductions.
The Social Carbon methodology was first developed as a tool to monitor the qualitative and quantitative sustainable development benefits of a carbon sequestration project in Brazil. Given the threats facing the abundant flora and fauna in the region, biodiversity conservation was one of the key criteria in assessing the project’s sustainability benefits.
As awareness of biodiversity loss has grown rapidly in recent years, this issue has become a major concern to many buyers of carbon credits.
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