REDD and REDD+ carbon credits are emission reduction certificates that can be sold to countries or companies that are looking to offset their own greenhouse gas emissions.
The key difference between the two is that REDD+ has much broader criteria for awarding credits that allow for more activities than simply reducing emissions from deforestation and forest degradation.
REDD was introduced in 2005 at COP11 in Montreal, Canada. It stands for "Reducing Emissions from Deforestation and Forest Degradation" and provides a market-based approach to reducing greenhouse gas emissions from deforestation and forest degradation.
REDD+, on the other hand, introduced in 2010 at COP16 in Cancun, Mexico, is an expansion of REDD which includes additional actions, such as biodiversity conservation, forest carbon stock enhancement, sustainable development, and living conditions improvement of local populations. As a result, REDD+ not only focuses on reducing emissions from deforestation and forest degradation, but also on conservation, maintaining forest carbon stocks and sustainable management of forests.
Observe that one does not cancel the other but rather are complementary to one another, sharing a mutual objective.
REDD+ is regarded as a much broader and comprehensive approach to forest conservation and greenhouse gas emission reductions, while REDD is somewhat limited in its scope.
FPIC - Free, Prior, and Informed Consent - in developing carbon credit projects.
Our research on carbon projects and on their most relevant impacts as a whole, has identified a concern around the importance of "generating positive impacts in local communities".
With this in mind, it is essential that we have the tools available to help ensure the smooth running and longevity of the project, and provide benefits to the communities. One such tool is the use of the FPIC standard, (Verra VCS Standard) which stands for Free, Prior, and Informed Consent. Consent by those who will be directly or indirectly impacted by the project, including local communities and/or indigenous peoples, will ensure perennity and risk mitigation during the course of the project. Joint decision making regarding the project directly with the local community adds tremendous value to the project. Although an FPIC is recommended under the VCS Verra standard, it is not mandated, yet failure to do so can be regarded as a risk to the project.
REDD+ projects offered by MyCarbon are in accordance with Verra VCS processes.
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