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Base Carbon is partnering with Value Network Ventures Advisory Services (VNV) to launch a nature-based carbon removal project in the northern India state of Uttar Pradesh. This initiative, facilitated through Base Carbon’s subsidiary Base Carbon Capital Partners, aims to combat climate change by reforesting degraded rural farmlands and arid deserted lands.
Base Carbon and VNV: Unveiling the Project’s Highlights
Base Carbon and VNV are collaborating to plant around 6.5 million trees in northern India. Currently, the companies have already planted around 2.5 million trees and the remaining 4 million are expected to be planted by year-end. This fast implementation, the companies suggest, is aligned with the companies’ sustainability strategies.
Over a 20-year period, the project aims to generate 1.6 million high-quality nature-based carbon removal credits, contributing to a substantial carbon emission offset.
The project’s sustainable financing involves an initial investment of $7.3 million from Base Carbon, along with an additional $6.3 million over the next decade from carbon credit sales. Beyond the environmental impact, the project engages local rural communities, bolstering food security, climate adaptation, and drought resilience.
A Transformative Approach to Carbon Removal
According to the companies, the Base Carbon-VNV collaboration stands out due to its holistic approach to climate action. The project prioritizes stakeholder engagement, ensuring that local needs and concerns are addressed.
Furthermore, the initiative promotes agroforestry, a sustainable practice that benefits smallholder farmers by diversifying income sources and building climate resilience.
VNV’s Role in Partnership with Base Carbon
VNV, founded in 2007, offers community-led programs on climate actions. Since the company’s beginning, VNV’s reach encompasses over 3 million hectares of conservation efforts across more than countries, including in South Asia and Africa, to name a few. As a result of these community-led programs, more than 7 million rural households have been impacted by these nature-based solutions.
Since VNV has successfully implemented previous community-driven climate initiatives, the company appeared to be an appropriate fit for Base Carbon’s portfolio.
The project intends to include approximately 16 different species, which have been selected through community collaboration. The planting will include native species to India, including citrus and guava, in addition to other culturally significant trees.