Jujuy signs agreement with ALLCOT to make its entry into the carbon bond market viable

The Government of the Province of Jujuy (Argentina) , through the Ministry of Environment and Climate Change, signed an agreement with the international developer ALLCOT to promote projects qualified to the carbon market,  and finance the protection of Jujuy’s native forests within the framework of Jujuy’s Carbon Neutral Green Jujuy 2050 strategy.

The Minister of Environment and Climate Change of Jujuy, María Inés Zigarán, and the CEO and founder of ALLCOT, Alexis Leroy, signed an agreement, in the framework of the COP Green Jujuy 2022.  This way, Jujuy reaffirms the policy of achieving a Carbon Neutral Green Jujuy 2050 by strengthening forest conservation through international financing, where ALLCOT will be a strategic ally.

ALLCOT is a project developer recognized worldwide for its results, knowledge, experience and management in greenhouse gas (GHG) emission reduction initiatives to actively combat the climate crisis under Article 6 of the Paris Agreement and aligning with the 2030 Agenda and its 17 Sustainable Development Goals (SDGs). The province would enable beneficiaries of the Forestry Law, i.e. those who own land with forest areas having some level of conservation, to submit projects qualified for the carbon credit market developed by ALLCOT, and allowing them to access international financing to better manage forests for climate change adaptation and reduce the risk of forest fires.

The parties agreed to join efforts to achieve the eventual implementation, development, validation and verification of a project grouped with VERRA’s specific methodology. The project will be located in the province of Jujuy, and seeks to implement actions for managing the conservation and restoration of forest ecosystems in Jujuy, promoting the increase of carbon storage and achieving the issuance and marketing of verified carbon units.

ALLCOT will be in charge of listing the project, determining the additionality criteria, conducting the VCU ( Verified Carbon Unit) potentiality study based on the analysis of the management plans, conducting the legal and political characterization at the provincial scale, conducting the preliminary characterization of the community climate and biodiversity component (CCB), establishing the potential of the sustainable development goals (SDGs) and establishing the requirements and deadlines of the Forest Stewardship Council.

ALLCOT is a company with global reach and local commitment providing solutions against climate change. ALLCOT offers extensive knowledge and experience for the development and financing of greenhouse gas emission reduction projects, such as renewable energy, landfills, forestry, etc. ALLCOT also provides consulting and advisory services for all types of climate change and sustainability solutions, such as environmental footprint measurement.

About ALLCOT

Since 2009, ALLCOT provides innovative solutions to combat climate change and promotes sustainability through project development, carbon markets and consulting. ALLCOT’s vision is: to lead and accelerate the global transition to a climate neutral society by 2050. ALLCOT’s unique approach is based on Article 6 of the Paris Agreement.It is also linked to the SDGs, non-market approaches and other mechanisms. Visit our website for more information about ALLCOT.

 

The ICVCM invited to co-create a definitive and consistent threshold for high-quality carbon credits

ALLCOT, in collaboration the Carbon Markets Fairness Foundation (CMFF), Conservation International – Colombia, and the West African Alliance on Carbon Markets and Climate Finance, has expressed and submitted its insights to the Integrity Council for the Voluntary Carbon Market (ICVCM) public consultation on the draft Core Carbon Principles (CCPs), Assessment Framework and Assessment Procedure.    

With its international scope and expertise in the carbon markets since 2009, ALLCOT in coalition with CMFF, CI Colombia and the West African Alliance on Carbon Markets and Climate Finance proposes to the ICVCM to “go beyond widely established best industry practices on social and environmental safeguards”, as currently included in the CCPs (Core Carbon Principles), by evolving the traditional concepts of “carbon project” and “consultation” to unlock the full potential of the Voluntary Carbon Market (VCM).

This coalition seeks the integration, by the ICVCM, of key elements that are essential for leveraging the quality of the VCM: fairness, equity, and integrity. These concepts relate to six guiding principles: Ownership of Local Communities and Indigenous Peoples, Carbon Pricing, Rapid Phase Out of Fossil Fuels, Corresponding Adjustments, Integrating smaller-scale projects, Biodiversity, and Attributes.

This collaborative submission includes, among others, the recommendation to create two new CCPs: one requiring “full ownership” of projects for Local Communities and Indigenous Peoples (LCIPs); and an additional one requiring fairness in the carbon pricing by carbon-crediting programs. With the aim of accelerating climate action, a fair price of carbon will allow projects to generate sufficient revenue to invest in additional mitigation and adaptation measures, promoting self-sustaining investments. The VCM will not succeed by being exclusive. Integrity can only be based on inclusion, therefore, the VCM requires the “integration” (inclusion) of all scales, including smaller-scale projects.

Only by taking into account the proposed framework, the VCM could aim at high-quality carbon credit taking the system to the next level, where no one is left behind and any action taken drives a real change towards our needed environment.

We invite you to read the complete submission here.

About ALLCOT:

Since 2009, ALLCOT provides innovative solutions to combat climate change and promote sustainability through project development, carbon markets, and advisory services. ALLCOT’s vision is to lead and accelerate the global transition towards a climate-neutral society by 2050. ALLCOT’s unique approach is based on Article 6 of the Paris Agreement, its linkage to the SDGs, non-market approaches, and other market mechanisms.

About Carbon Markets Fairness Foundation:

The Fair Carbon Markets Initiative aims to foster the emergence of a Carbon Market under a scheme of Fairness and Transparency that encourages active engagement of local communities, environmental integrity, and equitable distribution of benefits.

It is a strategic partnership forged among regions, governments, private sector, organizations (NGO/IGO) mostly key players from the Global South, encouraged by the opportunity to position themselves as environmental creditors and redefine a new path in carbon markets.

About Conservation International:

Conservation International works to highlight and conserve the benefits that nature provides to humanity. Since its inception, it seeks to help protect more than 6 million square kilometres (2.3 million square miles) of land and sea in more than 70 countries. It is now in 29 countries and has 2,000 partners around the world, with a truly global reach.

About West African Alliance on Carbon Markets and Climate Finance:

The West African Alliance on Carbon Markets and Climate Finance aims at strengthening opportunities for West African countries to actively participate in future carbon markets. Additionally, its goal is to enhance the long-term position of West African countries to participate in international carbon markets and improved access to result-based climate finance for NDC implementation.

Flowcarbon will partner with ALLCOT to tokenize carbon credits in joint projects

Flowcarbon, a leading provider of carbon reduction solutions, and ALLCOT a veteran carbon project developer, today announced a partnership to pilot the development of a “blockchain-first” carbon reduction project. This first of its kind program will conduct the full carbon credit creation lifecycle, from inception to issuance to retirement, on blockchain.

On-chain issuance of carbon credits allows buyers and validators to quickly and transparently access key data underlying credit issuance and certification, allowing certification processes to run more efficiently. Buyers, both individual and corporate, seek greater transparency, quality assurance and seller accountability in carbon transactions.

“Flowcarbon is proud to partner with ALLCOT to pioneer a new model for transparency and credibility in the carbon market, by leveraging the immutable and efficient record-keeping and data processing of blockchain to create and transact in carbon credits. As part of this partnership, our tokenization architecture ensures that key data associated with each credit is maintained and traceable, and that the credits themselves will trade in a liquid, accessible, and open manner, showing how blockchain as a technology infrastructure can be a key tool for scaling the voluntary carbon market.” Dana Gibber – C.E.O, Flowcarbon.

Tokenization of carbon credits from inception brings additional data transparency, lowers monitoring costs for third-party verification, and allows tokens to be programmed with useful features where payouts can be more dynamically linked to achieving key impact milestones. through this partnership, Flowcarbon and ALLCOT will help unlock a high impact technology that creates the next generation of carbon credits that are substantially more transparent, auditabile and efficient.

“Increased financing for climate change mitigation and adaptation programmes is required to meet the Paris Agreement objectives. Carbon credit tokenization can play an important role in improving the efficiency and transparency of carbon markets in order to achieve these goals. Finding new ways to engage more players in carbon compensation while improving co-benefits for the community and biodiversity is a powerful value proposition and ALLCOT is delighted to team up with Flowcarbon in this ambitious mission.” Raphaël De Ry – C.E.O ALLCOT Sports & Tech Ltd.

About Flowcarbon: 

Flowcarbon is a pioneering climate technology company facilitating carbon reduction and removal solutions. Its mission is to make carbon markets accessible and transparent, enabling the efficient and early flow of capital to be invested directly into projects that combat climate change. Flowcarbon is committed to driving real impact for people, biodiversity, and the planet.

To learn more about our work, visit our blog.

ALLCOT and the Carbon Markets Fairness Foundation organize the workshop: “Fostering the Future of Carbon Projects in Fairness and Equity” in Senegal.

ALLCOT and the Carbon Markets Fairness Foundation organize the workshop “Fostering the Future of Carbon Projects in Fairness and Equity”, which will be celebrated in Saly, Senegal, from September 2nd to 9th, 2022. This important event will be supported by EcoRegistry, Cercarbono, Senken and Flowcarbon.

The principal aim of this business encounter is to discuss the importance of equity and integrity in the carbon markets, putting a special emphasis on how these values are essential to the projects related to mitigation of greenhouse gas emissions in West Africa. The event will not only share the value proposition of the development of carbon markets in the region, but also will implement strategic initiatives taking the leadership to be spread worldwide.

This workshop will have high-profile speakers including Alexis L. Leroy, CEO & and Founder of ALLCOT, Ousmane Fall Sarr, ALLCOT Business Developer Advisor West Africa, Patricio Lombardi, Secretary General Carbon Markets Fairness Foundation, Juan David Durán-Hernández, CEO of EcoRegistry, Nick Chen, Head of Carbon Finance, among other experts in the field, who will have the opportunity to address relevant topics related to carbon markets such as “Innovation in Carbon Markets”, “Why Carbon Fairness?” and “Blockchain & Smart Contracts”.

During the workshop, participants will be able to enjoy guided tours to visit one of the most important projects ALLCOT is developing in the region that is the ALLCOT Blue Carbon Mangrove Senegal project, focused on the restoration of mangroves in the region of Casamance and Sine Saloum. Also, participants will have the opportunity to see the most recent project ALLCOT has been developing in Senegal, which is related to the distribution of cookstoves.

About ALLCOT:

Since 2009, ALLCOT provides innovative solutions to combat climate change and promote sustainability through project development, carbon markets, and advisory services. ALLCOT’s vision is to lead and accelerate the global transition towards a climate-neutral society by 2050. ALLCOT’s unique approach is based on Article 6 of the Paris Agreement, its linkage to the SDGs, non-market approaches, and other market mechanisms.

 About EcoRegistry:

Through the implementation of new technologies, such as Blockchain system, EcoRegistry seeks to dynamize the carbon markets, generating new and bigger opportunities for project owners and project developers. Through the implementation of these new information systems, buyers are able to recognize the positive attributes of the projects, bringing more trust in the carbon markets. 

About Cercarbono:

Cercarbono is a standard with a voluntary carbon certification programme that facilitates and guarantees the registration of Climate Change Mitigation Programmes or Projects (CCMPs), the certification of emissions, and the registration of the carbon credits generated by these initiatives. Cercarbono promotes and supports the development of initiatives in different economic sectors to mitigate climate change and strengthen the dynamics of the carbon market.

 About Senken:

Senken has built the first climate finance platform to trade on-chain carbon credits. The goal: to democratize purchases, sales, and retirements of carbon credits which were previously only available to privileged investors or over-the-counter insiders. The senken Marketplace enables credible investments in tokenized carbon credits from verified climate projects. The projects underlying the credits can be effortlessly queried, compared, purchased, traded and used to offset carbon emissions. Credibility and transparency are ensured through a decentralized on-chain carbon infrastructure that immutably stores all accruing information along the climate project value chain.

 About Flowcarbon:

Flowcarbon is using blockchain technology to address some of the systemic challenges in the voluntary carbon market, in particular, facilitating early and efficient access to capital for project developers, and creating tokens backed by carbon credits to facilitate liquidity, accessibility and transparency in the spot market for carbon markets.

 

Offset market choices

The Paris Agreement, as a global response to climate change, aims to limit global warming to 1.5º. It established binding commitments for all Parties in order to prepare, communicate and maintain a Nationally Determined Contribution (NDC), and apply national measures to achieve them. Article 6 of this Agreement establishes a voluntary international cooperation mechanism, applicable to meet or achieve greater ambition in a country’s NDC. Finally, during COP 26 at Glasgow November 2021, international trading for carbon markets provided an  expected framework since the negotiations led into rules and procedures for Article 6 mechanism to be applicable.

Market and non-market cooperation mechanisms are contemplated. Article 6.2 refers to cooperative approaches, in which Parties could choose to meet their NDCs while using Internationally Transferred Mitigation Outcomes (ITMOs). Article 6.4, for its part, focuses on carbon credits that can be generated in host countries in order to benefit from clean energy and, at the same time, meet the objectives of the Paris Agreement. Apart from that, Article 6.8 not only recognizes the  importance of non-market approaches to assist NDC compliance to promote mitigation and adaptation ambition, but also increases public and private sector participation and offers opportunities for coordination between instruments and relevant institutional arrangements.

Governments have carbon pricing instruments that create carbon markets, such as Emission Trading Systems (ETS) or tax-and-offset hybrid. Some of them accept carbon credits. However, in the course of time, this possibility has been increasing. Undoubtedly, the voluntary cooperation mechanism established in Article 6 of the Paris Agreement opens up new market possibilities. The established market mechanisms create new mixtures for existing markets, blurring the currently-disappearing-line between voluntary and regulated markets.

We expect carbon offsets can be used to meet Paris Agreement goals or voluntary targets. But it depends on country policies. Getting into a clear landmark to know how these new possible markets will certainly require domestic decisions and regulations.

We invite you to read the full original article through this link

The government of the Province of Jujuy, with the support of ALLCOT Group, evaluates joining the carbon markets

JUJUY

ALLCOT Group continues, regularly, its arduous effort in the fight against climate change. Last week, ALLCOT participated, represented by Paula Brufman (Institutional Director), in a meeting together with the Ministry of the Environment and Climate Change, María Inés Zigarán, the Secretary of Environment and Sustainable Development, Estefanía Sánchez Cuartielles and the president of photovoltaic park Cauchari, Guillermo Hoerth. The meeting took place at the House of Jujuy in Buenos Aires, Argentina.

The main aim of this event has been to analyze and evaluate the entry of the Province of Jujuy into the carbon credit markets, in pursuit of the reduction of greenhouse gas (GHG) emissions. This initiative could implement strategic projects related to renewable energy, urban solid waste management and forest conservation to bring them into regulatory compliance and voluntary markets. There is no doubt that this could also be a great financial opportunity for the province.

Once again, ALLCOT keeps creating and proposing strategies together with numerous organizations to integrate carbon markets. With that in mind, it may be possible to be more closely aligned with the framework of Article 6 of the Paris Agreement to face the greenhouse gas emissions that affect us all.

The government of Jujuy has echoed this news. You can read more about this meeting through this link.

JUJUY

Reflections on Climate Week New York and the role of explorers.


Written by Alexis Leroy, CEO ALLCOT


Last month, the climate change community met in New York City for Climate Week. Numerous organizations hosted events around the city on the sidelines of official United Nations events, making Climate Week one of the largest climate gatherings of the year.

I attended, among other events, the International Emissions Trading Association (IETA) “Carbon Forum North America”, held at the iconic Explorers Club headquarters in midtown.

The Explorers Club is an historic establishment that dates back to the early 20th century, when explorers such as Edmund Hillary, Theodore “Teddy” Roosevelt and Charles Lindbergh would regale members with tales of extreme conditions, new species of animals – some are still displayed in the club – and their efforts to push back the boundaries of human knowledge and achievement.

I like to think it was no accident that IETA chose The Explorers Club to host their annual event. Climate change is unknown territory: we are charting a new path into the realm of changing weather patterns and mankind’s ability both to prevent and to adapt to a changing environment.

And it also occurred to me that what groups involved in climate change are doing is very much akin to exploration. Not only does our changing climate represent the new territory, but the efforts that nations are making to prevent catastrophic climate change are also an entirely new way to tackle environmental problems.

To apply market mechanisms to solve an environmental problem may seem contradictory, but it speaks to one of the most powerful forces that drives mankind: its ambition, its pursuit of security and knowledge and its desire to survive. All of these are represented in market systems, and they were also forces that drove the great explorers.

Recently, a study was published that showed how close cooperation among nations in linking their carbon pricing systems could bring down the cost of reducing emissions by as much as $250 billion a year by 2030. Efficiencies of scale, as well as closely aligned regulations, are critical to achieving these cost reductions. 

This is ground-breaking research that highlights how the power of markets can be used to achieve a global good. And the idea of markets for environmental outcomes is not even new: The United States pioneered the use of markets for environmental goals when it developed the first emissions trading systems for Sulphur dioxide and nitrogen oxide emissions from coal-fired power plants in the 1970s.

This study explores the farther reaches of what may be possible if nations can agree on a clear and transparent set of standards and regulations for countries to use when setting up their carbon markets. The UN negotiations in Santiago this December will be critical to bringing to reality the exploratory work of work such as this study.

This research demonstrates how important it is that nations, as well as interest groups in the environmental space, consider the role of business. There are plenty of NGOs advocating for practical solutions to the problem of climate change, but not many of them address the concerns of the business community.

It’s not heresy to say this: whatever we may think of the global economy and its presence in our lives, business is among the most important constituencies that make up society. And as such, it has a role to play in addressing our problems.

Within the climate sphere alone, green NGOs advocate for solutions that consider science, human rights, climate justice, gender, youth, and workers. Why would it be seen as wrong that an NGO should help craft effective, efficient market mechanism regulations so that business can fully play its role?

Some may say that governments simply need to regulate carbon emissions out of existence, by imposing a tax on carbon dioxide. There are many parts of the world where that happens. Real explorers, however, are looking for ways that guarantee the environmental outcome, rather than government tax receipts.

Capitalism is often seen as incompatible with climate action; just look at the protests that are growing by the day around the world. The role of pioneers and explorers like IETA is to make the two work together, speeding up climate action by ensuring that there’s a real incentive to take action.