Asunción, Paraguay, 13.06.23: The Corazón Verde del Chaco Project (VCS Project 2611), the largest Reducing Emissions from Deforestation and forest Degradation (REDD+) carbon project in Paraguay, has now completed the VCS+CCB verification of 2020-2021 monitoring period at the Verra Registry, and issuance of Verified Carbon Units (“VCUs”) is now only a few days away.
Local project developer Quadriz made the first project announcement back in October 2020, partnering with Ostrya Conservation Inc. and Atenil S.A., on the largest REDD+ project to date in the Paraguayan Chaco. In March 2023, the project completed the VCS+CCB validation and registration at the Verra Registry. Corazón Verde del Chaco Project translated to English means ‘the green heart of the Chaco.’ The name was chosen as this describes exactly what the project protects and conserves.
During the initial 10-year crediting period, the project’s net greenhouse gas emission reductions are estimated at a total of 5.6 million tonnes CO2e.
“A first VERRA verification of our principal carbon project is an important milestone and proof of concept for REDD+ programs in the Paraguayan Chaco as a financial alternative to other land-uses. It is highly encouraging that we are able to bring together local landowners, international financiers and corporate carbon buyers to participate in our locally managed, high-quality carbon projects.”Said Marcel van Heesewijk, Founder & CEO at Quadriz.
The Gran Chaco has one of the highest rates of deforestation in the world, with the Paraguayan Chaco accounting for a large share of this deforestation. The Chaco Forest is the second largest forest area in South America, and is estimated to be home to over 3,000 plant species and more than 650 bird and mammal species – including rare, endemic and endangered species.
“Carbon credits generated by the Corazón Verde del Chaco Project directly support forest conservation and climate change mitigation efforts in an area of Paraguay long associated with agricultural expansion. This REDD+ project is the beginning of a paradigm shift in the Chaco whereby private landowners can now earn returns from forest conservation rather than clearing forest and expanding cattle ranches.”Said James Eaton, Director at Ostrya Conservation.
The Corazón Verde del Chaco Project contributes to all 17 of the UN Sustainable Development Goals, and has additionally achieved the coveted CCB Gold Level Distinction from Verra for the due to the Project’s exceptional biodiversity benefits. The unique biodiversity of the project area has been determined through a 10-month biodiversity monitoring study with motion-sensitive camera traps, installed by Quadriz and FACEN of the University of Asunción.
The monitoring study carried out by Quadriz and FACEN confirmed the project area as a biodiversity hotspot with a presence of, and range for, threatened and vulnerable species, among them the giant armadillo, lowland tapir, giant anteater, and the locally-endangered jaguar. These findings were later confirmed by the Validation and Verification Body (VVB), Aster Global Environmental Solutions and verified through the Climate, Community & Biodiversity Standards (“CCB”).
The project is now progressing to issue Verified Carbon Units (“VCUs”) of 2020 and 2021 vintages. Subsequently Quadriz will submit for the project’s second verification, this time for the 2022 monitoring period.
Quadriz is an innovative and visionary company which undertakes the development of nature- based solutions, through high-impact verified carbon offsetting projects, such as large-scale
REDD+ to protect primary forest, mitigate climate change and to facilitate the transition to a low- carbon economy. Quadriz generates quadruple impact with climate action, through carbon sequestration and the conservation of native primary forests, biodiversity, and local communities.
The company is dedicated to conserve a maximum area of the native forest lands of the Gran Chaco, South America’s second largest forest area. The Chaco forest area has one of richest biodiversity concentrations on the planet, but sadly also ranks as one of the world’s largest deforestation hotspots due to the region’s increasing cattle ranching industry.