Jurisdictional forest carbon program to be implemented

Antalya (Türkiye): An agreement has been reached between the Government of Nepal and South Pole to develop carbon programs covering more than 2.5 million hectares of forest across the Koshi, Karnali, and Sudurpaschim provinces.

South Pole is a global provider of climate solutions. Under the agreement, signed here today between the Ministry of Forests and Environment and South Pole, a jurisdictional forest carbon program (J-REDD+) will be developed. Developed in accordance with the TREES standard of the Architecture for REDD+ Transactions (ART), the program aims to reduce greenhouse gas emissions resulting from deforestation and forest degradation, promote sustainable forest management, and improve the control of forest fires.

The program will generate forest carbon credits that can be sold on the international market, in alignment with the International Civil Aviation Organization’s Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) and Article 6 of the Paris Agreement.

As per the agreement, the Government of Nepal will establish the necessary policy and regulatory frameworks for the program. This includes defining rights related to carbon and land, setting safeguard standards, establishing benefit-sharing mechanisms, and ensuring the Free, Prior, and Informed Consent (FPIC) of local communities.

South Pole will provide support in the technical design of the program, investment structuring, the mobilisation of blended finance, and the management of international carbon credit markets.

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