The novel mechanisms promise to mobilise more private financing for conservation, but risk distracting developing countries from addressing underlying debt issues and could ultimately be exploitative, say experts.
Communication and baseline setting for local community impact has been a key challenge despite almost two years of engagements, said project developer SaraCarbon, whose carbon project is the state's first in line for Verra certification.
Co-led by two senior South Pole staff, the Singapore-based Asia Centre of Carbon Excellence seeks to grow nascent decarbonisation projects in the region, such as early coal phase-out, greener shipping fuels and carbon capture and storage.