Organizations should source jurisdictional-scale REDD+ credits when available, and in the meantime, seek advance purchase agreements for jurisdictional-scale credits.ĥ. Organizations purchasing NBS credits should ensure the credits represent a net gain to biodiversity and ecosystem integrity.Ĥ. Organizations purchasing NBS credits should ensure the credits respect and protect human rights, and that Indigenous Peoples and local communities receive a fair and equitable share of the benefits.ģ. Organizations purchasing NBS credits should ensure the credits have environmental integrity and adhere to robust social and environmental safeguards.Ģ. Supply-side: Ensuring that emissions reductions and removals are accompanied by positive results on the ground for affected communities and ecosystemsġ. Table 1: Summary of Guard Rails for Responsible Use of NBS Credits Category and Purpose These guardrails are summarized in the table below and elaborated in more detail later in this article. WRI recommends the adoption of “guard rails” to align voluntary use of NBS credits with the above principles. An organization should be on a mitigation pathway aligned with limiting warming to 1.5 degrees C, and its use of NBS credits must supplement, not reduce, the pace of emissions reductions in its own operations and value chain.Credits must ensure environmental integrity and represent NBS that respect the rights and livelihoods of Indigenous and local communities while safeguarding biodiversity and.However, achievement of these outcomes is contingent on two overarching principles: It does not seek to address the use of carbon credits once net zero has been reached (e.g., for neutralization of residual emissions, which will be increasingly relevant as we approach 2050).ĭone right, greater use of carbon credits generated by nature-based solutions (NBS) will help deliver the Paris Agreement goals, foster the protection and restoration of natural ecosystems, and secure the rights and livelihoods of Indigenous Peoples and local communities. It covers the period to 2040, during which time most organizations on an abatement pathway consistent with limiting warming to 1.5 degrees C (2.7 degrees F) will continue to have remaining unabated emissions in their value chains. This guidance will be updated in response to market developments. Organizations could voluntarily adhere to this guidance on top of legal or regulatory requirements (though the design and implementation of market mechanisms in compliance contexts involves additional considerations that are beyond the scope of this guidance). While the primary focus is on the voluntary carbon market, it also represents best practice for how organizations could use NBS credits in compliance market contexts. It is intended for multi-stakeholder processes seeking to shape a high-integrity voluntary carbon market and to provide guidance to organizations (companies and institutions) on the credible use of NBS credits. This Technical Perspective provides guidance on the voluntary use of carbon credits generated by nature-based solutions (“NBS credits”), particularly those credits generated beyond an organization’s value chain (i.e., its scope 1, 2 and 3 inventories). It updates an earlier commentary on corporate financing of nature-based solutions, drawing on a working paper on the same topic. This guidance was developed by a WRI working group focused on nature-based solutions and markets and represents the Institute’s latest collective thinking on the voluntary use of NBS carbon credits.
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