Needs and Problems

In order to quantitatively evaluate the amount of CO2 absorbed by afforestation and use it as credits, CDM afforestation based on the Kyoto Protocol under the United Nations Framework Convention on Climate Change (UNFCCC) and REDD+ based on the Paris Agreement are being considered internationally. On the other hand, as a voluntary scheme outside the UN, efforts such as the Carbon Certification Standard (VCS) by the non-profit organization VERRA are being promoted mainly by the private sector. The current situation is that the rules of international systems are more strict than necessary and the cost burden is large. Generating carbon credits requires on-site surveys, report creation, and certification by a third-party organization, and each process takes time and money. Just generating them costs hundreds of millions to tens of millions of yen, and a certification process of 2-3 years is required before credits can be issued. In this situation, there are major obstacles to issuing carbon credits in small forests and creating new sources of income, and the market has become one that only a few large companies can get involved in.

 

At the request of the Japanese government, in 2007 Ikaw Ako Foundation　sought to apply the CDM to mangrove reforestation in the islands of Negros and Bohol.

 

The amount of labor and time required to calculate the above-ground and below-ground biomass reserves was predicted to be excessive, and the burden on Ikaw Ako was so great that the project was abandoned.

 

Since then, several Japanese companies interested in credits have approached Ikaｗ Ako about generating carbon credits through mangrove planting, but the deal has been put on hold because it is not possible to balance the amount of credits generated with the cost of calculating reserves.