Publication Date:July 5, 2012
News Source:Environmental Finance
The first project which sequesters carbon through agroforestry has been registered under the Verified Carbon Standard (VCS).
Paris-based project developer Eco-Carbone’s agroforestry project was registered for the voluntary offset programme last week.
The project aims to assist rural communities in Mali to adopt sustainable practices for their jatropha curcas plantations. The grains will then be processed into either oil or fertiliser, and sold to the local community.
Eco-Carbone, through its Malian joint venture JMI, is working in partnership with 3,500 farmers and has developed an agroforestry system in the Kita region of Mali, with more than 4,000 hectares of plantations. Eventually, 15,000 hectares will be planted, said the developer.
While JMI provides technical assistance, training and the guarantee that all the jatropha seeds will be bought, the farmers will manage the establishment, maintenance, harvest and seed sales from their own plantations.
Swiss pharmaceutical company Novartis has agreed to buy all of the carbon credits, including those for future plantations, for an undisclosed amount.
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