Sustainable Development Projects
We buy carbon credits from our strategic partner Ecosphere+, who sources them from the highest-quality projects to ensure that the carbon finance we provide is harnessed to conserve forests, create sustainable livelihoods for local communities, produce eco-commodities, and preserve ecosystem services.
Being part of an impact fund, Ecosphere+ projects are accountable to the highest environmental, social and governance standards. Each year, the Althelia Climate Fund publishes an impact report with quantified key performance indicators, setting out the progress from each project against seven impact criteria. Our projects are designed to address and support the aims of all 17 Sustainable Development Goals, allowing our customers to demonstrate measurable progress. In addition to our own ESG criteria, all our projects are independently certified by the Verified Carbon Standard (VCS) and the Climate, Community and Biodiversity Standard (CCB). Our projects also earn Gold level of distinction for various aspects of CCB such as adaptation, biodiversity, and community engagement. Each project’s methodology (e.g. VM007) and project design document is transparent and publicly available on the VCS/CCB website and must be validated by an independent third party. The Cordillera Azul project (ID 985) that Poseidon supports is validated by SCS Global Services. Additionally, every year, the credits claimed to be generated by the project must be verified by an independent third party. Cordillera Azul is verified by AENOR.
Quantifying and valuing forest and ecosystem ‘services’ requires diligence and scientific rigor. Forest carbon projects have evolved considerably over the past twenty years to meet challenges and concerns about environmental and social impact. Enormous effort has been made to ensure the integrity and lasting impact of these projects through the development of independent standards such as VCS and CCB. And now leading brands and governments have made forest conservation projects like ours a well-established approach to achieving significant carbon emissions reductions. The VCS and CCB have robust measures in place to address leakage (ensuring deforestation is not simply intensified elsewhere) and permanence (demonstrating lasting climate benefits).