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Here is why 1MTN solely focuses on developing high-quality nature-based carbon removal credits

The recent news reported by the Guardian, in collaboration with Die Zeit and SourceMaterial, has raised concerns about the carbon offset credits approved by Verra, the world's leading carbon standard for the voluntary offset market. The investigation has found that more than 90% of their rainforest offset credits, commonly used by companies, are likely to be "phantom credits" and do not represent genuine carbon reductions. In response, Verra has claimed that the studies used by the publications failed to account for project-specific factors contributing to deforestation. "The claims in this article are based on studies using "synthetic controls" or similar methods that do not account for project-specific factors that cause deforestation. As result, these studies massively miscalculate the impact of REDD+ projects."

This is a concerning revelation for companies that have labelled their products as "carbon neutral" or claimed to their consumers that they could offset their carbon footprint through these credits.

This article is not only concerning for the companies that have invested in these carbon offset credits but also for the environment and the global fight against climate change. Carbon offset credits are crucial for many companies to reach their Net-Zero goals and promised targets. First, however, companies need to ensure that their investment in carbon offset credits reduces emission levels.

The Importance of Measuring Nature-based Carbon Removal

One of the critical issues at play is the difference between some types of carbon credit projects. Many key players in Voluntary Carbon Market, like Sylvera, have already pointed out that it is essential to remember that not all offsets are identical. Carbon offsetting projects fall into two categories, whether the offset has been generated by emissions avoidance (also known as avoidance) or by carbon removal. But what's the difference between these two methods?

Carbon Removal vs Emissions Avoidance

Emissions avoidance is when an activity or project results in future greenhouse gas emissions being avoided or reduced. Examples include renewable energy projects, forest conservation or management, and emitting industries' carbon capture and storage technology.

On the other hand, carbon removal projects physically remove existing carbon from the atmosphere. This can happen in nature through afforestation and reforestation or technological solutions, such as direct air capture or enhanced weathering.

Carbon removal projects are crucial in the fight against climate change. While emissions avoidance methods are typically well-established and easy to implement, resulting in immediate impact at a relatively low cost, carbon removal projects can potentially remove vast amounts of carbon if deployed successfully. However, because they are often early-stage projects, they require substantial funding now to reach their full potential.

Why 1MTN chooses to focus on nature-based carbon removal projects

At 1MTN, we understand the importance of high-quality nature-based carbon removal projects. We believe this is the most effective way to address climate change and positively impact the environment and communities. Therefore, we focus on developing carbon removal projects that remove carbon from the atmosphere and provide benefits such as increased biodiversity, improved soil and water quality, and livelihoods for local communities.

For example, our current projects in Uganda involve planting trees on land that hasn't had forest cover for at least ten years. This removes carbon from the atmosphere and provides benefits such as increased biodiversity, improved soil and water quality, and improved livelihoods for local communities.

We invite you to learn more about our projects and consider purchasing high-quality nature-based carbon removal credits from 1MTN. We are confident that our approach to carbon removal is both effective and beneficial for the environment and local communities.


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