Iringa Issues 50,000 Carbon Units

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Iringa Issues 50,000 Carbon Units

Tanzania: Iringa Based Green Resources Issues 50,000 Carbon Units

IRINGA-based Green Resources AS which registered the first verified carbon units (VCUs) for agriculture, forest and land use in 2009, issued 59,000 VCUs from its third verification this year.

In a recent statement, the company said its Uchindile and Mapanda reforestation projects which have also been verified under the Climate Community and Biodiversity Alliance standard (CCBA) in 2013 and has been Forest Stewardship Council certified since 2008, shares revenue with communities from carbon units sales. "The credits are sold into the voluntary market by a leading offsetting company. The objective of the Uchindile and Mapanda reforestation project is to contribute to mitigating climate change while meeting the growing demand for quality wood products from well managed plantation forests," the company's statement said. The project is also contributing to sustainable environmental management, community development and poverty alleviation in Tanzania. The project promotes environmental conservation, through protection of water sources, soil conservation and enhancement of biodiversity through protection and management of existing indigenous flora and fauna. As part of the community development plan, as agreed between the surrounding communities and Green Resources, the latter has rehabilitated/built several infrastructures like health and schools facilities, roads, bridges and boreholes, the statement added. Additionally the project has been providing employment and promoting tree planting by providing seedlings and training to thousands of farmers in the surrounding villages. Furthermore, as part of Green Resources policy, 10 per cent of the revenues generated from the sale of carbon credits are shared with the communities to further support community development projects. Green Resources is Africa's leading forestation company and a leader in East African wood manufacturing. The company has 41,000 ha of standing forest in Mozambique, Tanzania and Uganda, established through its own planting activities.It operates East Africa's largest sawmill in Tanzania and electricity pole and charcoal plants in Mozambique, Tanzania and Uganda and is also one of the first global companies to receive carbon revenue from its plantation forests. Source: AllAfrica

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